Bermuda reinsurer Montpelier Re Holdings has revealed its shareholders plan to sell $213m (£126m) of stock.
The issue will take the form of a secondary offering, which means the proceeds of the sale will go to the shareholder, not the issuing company.
Montpelier, which went public last year, said the offering of 7 million shares was priced at $30.50 (£17) per share. Underwriters have an option to purchase a further 1.05 million shares in the case of over-allotment.
Shareholders planning to sell stock include; Cypress Merchant B Partners II (Cayman) LP, DLJMB Overseas Partners III LP, Vestar AIV Holdings A LP and Gilbert Global Equity Partners (Bermuda) LP.
