Bamboo Insurance Aims for $700 Million in NYSE Debut

Bamboo Insurance Services is gearing up for its highly anticipated initial public offering (IPO) on the New York Stock Exchange. The Utah-based home insurer plans to raise as much as $700 million by selling 35 million shares at a price range of $18 to $20 each.

The IPO, which is set to price on September 22 under the symbol BMB, will see existing shareholders such as CVC Capital Partners receiving the proceeds. This move suggests that backers are planning an exit from their investment in Bamboo Insurance.