Fortegra Group, a specialty insurer focused on niche businesses and fee-based services, withdrew its plans for an initial public offering on Wednesday. It had filed to raise $297 million by offering 18 million shares priced between $15 and $18.
This is the second time Fortegra has scrapped IPO plans. The insurer had previously attempted to go public in early 2021, but withdrew the offer before the expected price.
The Jacksonville, Florida-based company was founded in 1978 and had revenue of $1.5 billion for the 12 months ended September 30, 2023. It had planned to list on the NYSE under the symbol TFG. Goldman Sachs, JP Morgan, Jefferies and Barclays were to be the joint bookrunners on the deal.
Comments are closed.