Bamboo Insurance Services expects to price its U.S. initial public offering on Sept. 22, offering 35 million shares at $18 to $20 each and targeting a fully diluted valuation of up to $3.24 billion. Existing shareholders, including CVC Capital Partners, would receive the $630 million to $700 million in potential proceeds, while the Utah-based home insurer would receive none. Bamboo reported first-half revenue of $173.4 million and plans to list on the New York Stock Exchange under the symbol BMB. The company operates as a managing general underwriter, underwriting and distributing homeowners' insurance policies for carriers that retain claims risk. CVC acquired a majority stake from White Mountains Insurance last year in a transaction valuing Bamboo at $1.75 billion.