Watford Holdings Ltd. Files Registration Statement for Proposed Nasdaq Listing
HAMILTON, Bermuda--(BUSINESS WIRE)--Watford Holdings Ltd. ("Watford" or the "Company"), a global property and casualty insurance and reinsurance company, announced today that it has publicly filed a registration statement on Form 10 (the "Form 10") with the U.S. Securities and Exchange Commission in connection with the proposed listing of the Company’s common shares on The NASDAQ Global Market (the "Listing"). The timing of the Listing is subject to market and other conditions, including the effectiveness of the Form 10. There can be no assurance the Company will be able to complete the Listing.
The Company also announced that its board of directors has authorized a share repurchase program under which the Company may, following the Listing, repurchase up to $75 million of its outstanding common shares from time to time on the open market or in privately negotiated transactions (the "Repurchase Program"). Any such repurchases will be in accordance with applicable laws, the Company's organizational documents and the applicable terms of the Company’s outstanding securities. There can be no assurance such purchases will occur.
Watford has retained J.P. Morgan, Barclays and Morgan Stanley as joint lead advisors on the Listing. Bank of America Merrill Lynch and Keefe, Bruyette & Woods are acting as co-advisors to the Company on the Listing. Clifford Chance US LLP is acting as legal advisor to the Company.
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Watford Holdings Ltd.
Chief Financial Officer