(Reuters) -Accelerant’s shares jumped 35.7% in their New York Stock Exchange debut on Thursday, giving the specialty insurance marketplace – backed by billionaire sports financier Todd Boehly – a fully diluted valuation of $6.37 billion.
The company’s stock opened at $28.50 apiece, above the $21 offer price. Accelerant and some of its backers sold roughly 34.5 million shares in an upsized IPO to raise $724 million.
The strong debut adds to growing momentum for insurance IPOs that have emerged as a key theme in the new listings market since Liberation Day with a string of companies successfully pulling off first-time share sales.
Aspen Insurance, American Integrity Insurance, Ategrity Specialty Insurance and Slide Insurance have completed IPOs in New York since May.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju Samuel)
