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25 February 2018

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Third Point Re secondary sale prices at $15.75 a share

Ted Bunker 14 November 2017

Third Point Re investors plan to sell 15 million shares in the company through a secondary offering that has priced at $15.75 a share, putting the deal value at $236.25mn.

The shares fell 5.4 percent to close at $15.90 following the news.

Third Point Re has traded up strongly this year, rising 45.5 percent to close at $16.80 yesterday, before the share sale was announced.

The offering, managed by JP Morgan, will involve a majority of Kelso & Company's 23.3...

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