Aspen Insurance Raises $397.5 Million in NYSE IPO

Aspen Insurance Holdings Ltd., a Bermuda-based specialty insurer controlled by Apollo Global Management, successfully raised approximately $398 million in its initial public offering on the New York Stock Exchange under the ticker symbol AHL. The company sold around 13.25 to 13.3 million shares at $30 each, pricing within its expected range of $29 to $31, which values Aspen at about $2.76 to $2.8 billion. The IPO was well oversubscribed and all shares were sold by Apollo, which remains Aspen's controlling shareholder. This offering occurred amid economic uncertainty influenced by U.S. trade policies but demonstrated investor confidence in Aspen's business model and growth prospects. A wide syndicate of banks including Goldman Sachs, Citi, and Morgan Stanley acted as joint bookrunners for the deal. Aspen's return to public markets is seen as a move to leverage the capital raised for global growth opportunities.