An Auckland-based insurance firm is being tipped to carry out the second initial public offering and NZX main board listing of 2015.
CBL Insurance, a privately-owned credit surety and financial risk insurer, has today reported a 14 per cent lift in unaudited annual premium income to $242 million and a 41 per cent increase in operating profit to $36 million.
In the result announcement the company, which raised A$55 million through a secured debt offer late last year, said it had appointed investment bank UBS and Bancorp Corporate Finance to "assess its options".
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A market source said CBL was a candidate for an IPO and NZX main board listing, which was likely to take place before the end of June.