Bolttech, a Singapore-based insurance technology firm, is considering a US initial public offering that could raise as much as $300 million, according to people with knowledge of the matter.
The company, backed by Hong Kong billionaire Richard Li, has asked banks for proposals for the potential share sale, which may take place as soon as next year, the people said. Bolttech could raise $250 million to $300 million from the offering, based on the company’s valuation of $1.6 billion from its last funding round, the people said.
Deliberations are ongoing and details of the IPO such as size and timing could change, the people said, asking not to be identified as the information is private. A representative for Bolttech declined to comment.
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