Aspen Insurance has launched an initial public offering of 11 million Class A ordinary shares ($0.001 par value), all being sold by entities affiliated with Apollo Global Management, its parent company.

Aspen has revealed that the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,650,000 ordinary shares. The IPO price is expected to range between $29.00 and $31.00 per share, which would value the base offering between approximately $319 million and $341 million.

According to the firm, its ordinary shares have been approved for listing, subject to official notice of issuance, under the ticker symbol “AHL” on the New York Stock Exchange.

Readers may recall that Aspen filed for a U.S. IPO in December 2023, stating that the offering aimed to enhance financial flexibility, establish a public market for its shares, strengthen its capitalisation, and support future access to capital markets.

Goldman Sachs & Co. LLC, Citigroup and Jefferies are reportedly acting as lead book-running managers for the proposed offering.

Meanwhile, Apollo Global Securities, BMO Capital Markets, Deutsche Bank Securities, Morgan Stanley, RBC Capital Markets, Wells Fargo Securities, Citizens Capital Markets, Dowling & Partners, Natixis, Piper Sandler, and Raymond James are serving as book-running managers, while Academy Securities and Siebert Williams Shank are acting as co-managers for the proposed offering.

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