Bermuda-based Assured Guaranty Ltd. announced that the initial public offering of 49 million of its common shares, at $18 per share, was completed on Wednesday.

An additional 7,350,000 common shares may be sold depending upon the exercise of an over-allotment option granted to underwriters.

All of the shares were sold by ACE Ltd. subsidiaries, which will receive the net proceeds. As a publicly traded company, Assured Guaranty will issue its first quarter earnings and financial supplement before 8 a.m. Bermuda time on Tuesday, May 11.

These documents will be available in the Investor Information section of the company?s website at www.assuredguaranty.com. The company will host a conference call for investors at 9.30 a.m. Bermuda time on Tuesday, May 11. The conference call will be available via live and archived webcast on the company?s website or by calling 1-617-786-2962, passcode 65812948.