The specialist insurer Fortegra is aiming for a valuation of up to 1.52 billion US dollars when it goes public

(Reuters) – Fortegra Group, backed by private equity firm Warburg Pincus, is seeking a valuation of up to $1.52 billion as it prepares to go public in New York, the specialty insurance company said on Monday.

The company plans to sell 18 million shares at a price between $15 and $18 apiece and raise about $324 million at the high end, according to a filing with the U.S. Securities and Exchange Commission.

Jacksonville, Florida-based Fortegra Group plans to list its shares on the New York Stock Exchange (NYSE) under the symbol TFG.

Goldman Sachs, JPMorgan, Jefferies and Barclays are the lead underwriters for the IPO.

The IPO market is expecting a recovery after a two-year period of economic uncertainty and high interest rates. However, recent new listings, including those of healthcare company BrightSpring and Morgan Stanley Direct Lending Fund, suggest investor caution is still present and could hurt the IPO market's hopes of a recovery.