Enstar Group, a company that acquires and manages insurance and reinsurance companies in run-off, has priced its public offering of 1.2 million ordinary shares at a price of $87.50 per share.
All of the shares will be sold by Enstar and none of the shares will be sold by Enstar’s existing shareholders. Enstar has also granted the underwriters a 30-day option to purchase an additional 180,000 ordinary shares to cover over-allotments, if any. Enstar expects the issuance and delivery of the shares to occur on July 1, 2008.
Fox-Pitt Kelton Cochran Caronia Waller USA is acting as book-running manager and Dowling & Partners Securities is acting as co-manager for the offering.