Brief: White Mountains Says MediaAlpha Priced IPO At $19 Per Share

White Mountains Insurance

28/10/2020 01:25

Oct 27 (Reuters) - White Mountains Insurance Group Ltd
 WTM.N :
    * MEDIAALPHA PRICES INITIAL PUBLIC OFFERING
    * WHITE MOUNTAINS INSURANCE- MEDIAALPHA PRICED AN INITIAL
PUBLIC
OFFERING OF 9,250,000 SHARES OF ITS CLASS A COMMON STOCK AT A
PRICE OF $19 PER SHARE
    * WHITE MOUNTAINS INSURANCE - AT IPO PRICE, MEDIAALPHA HAS
EQUITY
MARKET CAPITALIZATION OF ABOUT $1.2 BILLION AND ENTERPRISE
VALUATION OF ABOUT $1.4 BILLION
    * WHITE MOUNTAINS-AT IPO PRICE, TRANSACTION WILL RESULT IN
GAIN OF
ABOUT $95 TO WHITE MOUNTAINS'S BOOK VALUE PER SHARE AND ADJUSTED
BOOK VALUE PER SHARE
    * WHITE MOUNTAINS WILL OWN 21,150,598 MEDIAALPHA SHARES,
REPRESENTING A 33% FULLY-DILUTED OWNERSHIP INTEREST
    * AT INITIAL OFFERING PRICE, VALUE OF WHITE MOUNTAINS'S
REMAINING
EQUITY OWNERSHIP STAKE IS ABOUT $400 MILLION

Source text for Eikon:  ID:nPn1q3dR3a 
Further company coverage:  WTM.N 

 ((Reuters.Briefs@thomsonreuters.com;))