Reinsurer Conduit rises 5% after pricing $1.1 billion London IPO

LONDON (Reuters) – Reinsurer Conduit rose 5% on its London market debut after pricing an 826 million pound ($1.10 billion) initial public offering (IPO) earlier on Wednesday.

The company sold 164.13 million shares at 500 pence per share via joint bookrunners Jefferies and Panmure Gordon. By 1100 GMT, shares were up to 526 pence.