Kinsale Capital Group, which is backed by Moelis Capital Partners and Virginia Capital Partners, has raised about $106 million for its IPO after pricing its 6.6 million shares at $16 per share. The stock began trading July 28 on the NASDAQ under the ticker symbol “KNSL.” J.P. Morgan Securities LLC and William Blair & Company LLC are serving as the lead underwriters. Based in Richmond, Virginia, Kinsale Capital is a holding company for Kinsale Insurance Company, which focuses on hard-to-place property, casualty and specialty risks.
RICHMOND, Va., July 27, 2016 (GLOBE NEWSWIRE) — Kinsale Capital Group, Inc. (NASDAQ:KNSL) today announced the pricing of its initial public offering of 6,600,000 shares of common stock at a price of $16.00 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on July 28, 2016 under the symbol “KNSL.”
Kinsale is offering 5,000,000 shares of common stock and the selling stockholders named in the prospectus are offering 1,600,000 shares of common stock. The underwriters have a 30-day option to purchase up to an additional 990,000 shares of common stock from the selling stockholders. Kinsale will not receive any proceeds from the sale of shares by the selling stockholders.
J.P. Morgan Securities LLC and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. RBC Capital Markets, LLC is also acting as a joint book-running manager for the offering. SunTrust Robinson Humphrey, Inc., Dowling & Partners Securities LLC and Moelis & Company LLC are acting as co-managers. This offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from J.P. Morgan Securities LLC, Attention: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204, or William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, or by telephone at 1-800-621-0687 or email at firstname.lastname@example.org.
The registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Kinsale Capital Group, Inc.
Kinsale Capital Group, Inc. is the holding company for Kinsale Insurance Company and is headquartered in Richmond, VA. Kinsale Insurance is a domestic excess and surplus lines insurance company specializing in hard-to-place property, casualty and specialty risks.