Bamboo Insurance seeks $700 million in IPO as backers plan exit

Bamboo Insurance Services plans to raise as much as $700 million by selling 35 million shares at $18 to $20 each in a New York Stock Exchange listing. Existing shareholders, including CVC Capital Partners, will receive the proceeds. The Utah-based home insurer reported $173.4 million in first-half revenue and expects to price the IPO on Sept. 22 under the symbol BMB.

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