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Ryan Specialty launches IPO | Business insurance



Ryan Specialty Group Holdings Inc. said on Monday that it has launched its previously announced IPO of Class A shares. per share, which could generate up to $ 1.42 billion in gross samples.

It stated that it also intends to give insurers the right to purchase an additional 8,537,742 shares. Ryan Specialty has applied to list its Class A share on the New York Stock Exchange under the symbol RYAN.

The company said it plans to use the net profit to acquire newly released LLC units from the Ryan Specialty Group; the capital of a company through which a subsidiary of Onex Corp in Toronto has a preferred stake in Ryan Specialty Group; and outstanding LLC units from the Ryan Specialty Group from certain existing owners of LLC units.

The wholesaler said in March that it had confidentially submitted a draft registration form, S-1

, to the US Securities and Exchange Commission, and in June that it had submitted a registration declaration related to its proposed IPO.

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