Todd Boehly-Backed Accelerant Gains 26% in $724 Million IPO (1)

Accelerant Holdings’ shares surged 26% in its public debut after the company and some of its backers raised $724 million in an upsized US initial public offering, the latest insurance-related listing to meet with strong demand.

Shares of the specialty insurance marketplace operator closed at $26.50 each on Thursday in New York, versus an IPO price of $21 apiece. The company and investors including funds affiliated with Altamont Capital Partners enlarged the deal to 34.5 million shares above the marketed range. The offering ended up attracting demand for around 20 times the available shares, Bloomberg News reported.

The ...