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Flagstone Sets IPO Terms

Flagstone Reinsurance Holdings Ltd., a Bermuda-based reinsurer, has set its proposed IPO terms to 13 million common shares being offered at between $12.50 and $14.50 per share. It plans to trade on the NYSE under ticker symbol FSR, with Lehman Brothers and Citigroup serving as co-lead underwriters. The company completed a $715 million initial capitalization earlier this year co-led by Lehman Brothers Merchant Banking and Lightyear Capital. www.flagstonere.bm