Esure Group Plc, the U.K. auto insurer, has received enough demand for the minimum number of shares to be sold in its initial public offering, according to a sale update sent to investors and obtained by Bloomberg News.
Esure opened the IPO for investors March 8, saying it expected to be valued at about 1.1 billion pounds ($1.6 billion) at the midpoint of the price range.
The company said at the time that it would offer between 145 million and 210 million shares at a range of 240 pence to 310 pence a share, including as many as 20.8 million new shares.
Companies in Europe, the Middle East and Africa raised $3 billion in IPOs this year, compared with $545 million they raised in the same period last year, data compiled by Bloomberg show.
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