Aurigen Capital Reduces Share Price Range for its IPO

Aurigen Capital Ltd., the reinsurer backed by billionaire George Soros, reduced the share price range for its Canadian initial public offering.

The Hamilton, Bermuda-based reinsurer aims to sell shares for C$9.50 to C$10.50 each in its offering, according to an amended filing to Canadian regulators today. That’s down from its initial plan to offer stock for C$13 to C$15 each.

Aurigen now plans to raise C$200 million ($184 million) from the sale and certain existing investors will buy about C$50 million of the offering. The company’s initial plan last month was to raise C$250 million through the Toronto IPO.

An e-mail message left with Chief Executive Officer Alan Ryder wasn’t immediately returned.

Royal Bank of Canada, Canaccord Genuity Group Inc. and Toronto-Dominion Bank are leading the sale.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net; David Scanlan at dscanlan@bloomberg.net Jacqueline Thorpe, David Scanlan

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.