Wellington Nets $138M from Sale of Aspen Shares

Wellington Underwriting PLC in London reported that it will receive net proceeds of about $138.6 million from the sale of 6,000,000 Aspen shares.

Following the sale of these shares, Wellington will continue to hold 3,800,142 Aspen shares, as well as options to purchase a further 3,781,120 Aspen shares.

Wellington has said it plans to invest the funds to support its underwriting operations at Lloyd’s.