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Aurigen Capital Reduces Share Price Range for its IPO

May 16 (Bloomberg) -- 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

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