Houston insurance group raises $100M through share offering
A Houston-based insurance holding company raised millions of dollars to support its businesses.
Houston International Insurance Group Ltd., or HIIG, completed an oversubscribed rights offering to existing shareholders that resulted in gross proceeds of $100 million, according to an April 22 news release. Toronto-based investment firm The Westaim Corp. (TSXV: WED), an existing HIIG shareholder, purchased over $44 million of HIIG’s preferred shares.
Westaim owns a 44% interest in HIIG. Through a…
