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.