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Kinsale Capital Group discloses price range, share count for IPO

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Kinsale Capital Group discloses price range, share count for IPO

KinsaleCapital Group Inc. filed an amended Form S-1 to register 6.9million common shares for its IPO.

The insurer is selling 5 million common shares. Certain sellingstockholders are offering 1 million common shares and granted the underwritersan option to buy an additional 900,000 common shares.

The company expects the initial IPO per-share price to bebetween $14 and $16. The proposed maximum aggregate offering priceis about $110.4 million, estimated solely for the purpose of calculating theregistration fee and includes the underwriters' option to buy additional shares.

Net proceeds from the insurer's sale of common shares willbe approximately $67.6 million, assuming an IPO price of $15 per share andafter deducting the underwriting discounts and commissions and estimatedoffering expenses of $2.6 million. The company will not receive any proceedsfrom the shareholders' sale of its common shares.

Kinsale Capital plans to use the net proceeds to makecontributions to the capital of its insurance subsidiary and for other generalcorporate purposes.

The company has applied to list its common shares on theNASDAQ Global Select Market under the symbol KNSL.

J.P. Morgan Securities LLC, William Blair & Co. LLC, RBCCapital Markets LLC, SunTrust Robinson Humphrey Inc., Dowling & PartnersSecurities LLC and Moelis & Co. LLC are underwriters for the offering.

KinsaleInsurance Co. is the principal operating subsidiary of KinsaleCapital.