Insurer Bowhead Up 40% After Enlarged IPO Prices Above Range (1)

Shares of specialty property and casualty insurer Bowhead Specialty Holdings Inc. jumped 40% in their first day of trading after the company raised about $128 million in an enlarged initial public offering.

Bowhead shares closed at $23.80 each on Thursday versus their IPO price of $17 apiece. The company had increased the size of the stock sale and sold more than 7.5 million shares on Wednesday at a price above a marketed range.

The trading gives Bowhead a market value of about $750 million based on the outstanding shares listed in its filings with the US Securities and Exchange Commission. ...