Home Insurance MGU Unicorn Bamboo Insurance (BMB.US) Sets IPO Price at $18-$20 per Share, with Valuation up to $3.13 Billion

Jintong Finance APP has learned that Bamboo Insurance Services, a home insurance management general underwriter (MGU) based in Midvale, Utah, USA, disclosed in a filing on Monday that the company's target valuation for its U.S. initial public offering (IPO) is up to $3.13 billion. The selling shareholders plan to issue 35 million shares at a price range of $18 to $20 per share, aiming to raise up to $700 million. The company plans to list on the New York Stock Exchange under the ticker symbol "BMB". JPMorgan and Morgan Stanley are acting as joint lead underwriters, with Deutsche Bank Securities, Evercore ISI, and Wells Fargo Securities serving as joint bookrunners.