Home insurance MGU unicorn Bamboo Insurance (BMB.US) IPO priced at $18-20 per share, valuing it at up to $3.13 billion.

Zhito Finance APP has learned that Bamboo Insurance Services, a managing general underwriter (MGU) for homeowners insurance headquartered in Midvale, Utah, disclosed in a filing on Monday that its U.S. initial public offering (IPO) is targeting a valuation of up to $3.13 billion. Its selling shareholders plan to offer 35 million shares at a price 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 serving as joint lead underwriters, while Deutsche Bank Securities, Evercore ISI, and Wells Fargo Securities are acting as joint book-running managers.