Reuters: IPOX® CEO Josef Schuster Comments on Safepoint’s IPO and Market Demand

Reuters reported that Florida-based insurer Safepoint is targeting a valuation of up to $1.16 billion in its U.S. IPO. The Tampa-based property and casualty insurer and certain backers are seeking to raise up to $283.3 million by offering 16.7 million shares priced between $15 and $17 each.

The article highlighted renewed activity in the post-Memorial Day IPO market, with issuers across several sectors launching roadshows. Reuters connected Safepoint’s planned NYSE listing to broader investor demand for IPOs and cited IPOX® CEO Josef Schuster on the strength of IPO market fundamentals, as reflected by the IPOX® 100 U.S. Index.

“The 16% YTD jump in IPO benchmark IPOX 100 underlines why investor demand for IPOs has been so strong. With 75% of portfolio holdings beating on earnings and sales, market-beating fundamentals are a big part of the story,” IPOX CEO Josef Schuster told Reuters.

Read the full article by Pragyan Kalita and Arasu Kannagi Basil on Reuters: Florida insurer Safepoint eyes $1.16 billion valuation in US IPO