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Validus Prices $334 Million IPO

Validus Holdings Ltd., a Bermuda-based reinsurance company, raised $334.4 million via its IPO. The company priced 15.2 million common shares at $22 per share, which was below both its expected share amount (15.7 million) and price range ($24-$26). It has an initial market cap of approximately $1.58 billion. Validus will trade on the NYSE under ticker symbol VR, while Goldman Sachs and Merrill Lynch served as co-lead underwriters. It was formed in October 2005, with funding from Aquiline Capital Partners, Goldman Sachs Capital Partners, Vestar Capital Partners, New Mountain Capital and Merrill Lynch Global Private Equity. www.validusre.bm