Neptune Insurance Set to Debut on NYSE, Seeking $2.76B Valuation
Neptune Insurance Holdings is set to make its debut on the New York Stock Exchange (NYSE) under the ticker symbol 'NP'. The company has filed a registration statement with the US Securities and Exchange Commission for the initial public offering (IPO).
The IPO, led by Morgan Stanley as the lead left bookrunner, is expected to price between $18 and $20 per share. A total of 18.42 million shares are on offer, which could raise up to $368.4 million. Selling securityholders have granted underwriters a 30-day option to purchase an additional 2.76 million shares.
Neptune Insurance is seeking a valuation of up to $2.76 billion in the offering. The company has shown strong financial growth, with a 40.6% increase in organic revenue in 2024, a net income margin of 29%, and an adjusted EBITDA margin of 60.4%. This follows a 32.3% rise in organic revenue in the first half of 2025, with a net income margin of 30.2% and an adjusted EBITDA margin of 59.3%.
Neptune Flood, a subsidiary of Neptune Insurance Holdings, has been operational since 2018, providing residential and commercial car insurance quotes.
Neptune Insurance Holdings' IPO is set to bring the company's valuation to up to $2.76 billion. With strong financial performance and a growing subsidiary, Neptune Flood, the company is poised for further growth as it joins the NYSE.
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