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Ryan Specialty Group Holdings, Inc. announced on July 12th the launch of the initial public offering of its Class A common stock. (Photo: RSG)

Ryan Specialty Group (RSG) has raised $1.34 billion in its initial public offering debut, Bloomberg reported. Shares of the wholesale broker and managing underwriter sold for $23.50 in the IPO. They rose to $25.60 Thursday (July 22) morning before hitting $28 in the afternoon, giving the company a market value of $7.15 billion.

According to Bloomberg, RSG sold nearly 57 million shares on Wednesday, July 21, and is on pace to be the largest of 29 IPOs on U.S. exchanges this week.

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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