Bamboo Insurance Services Inc., a home insurance company controlled by private equity firm CVC Capital Partners, is seeking to raise as much as $700 million in an initial public offering that will enable its backers to cut their stakes. The Midvale, Utah-based company plans to market 35 million shares for $18 to $20 each, according to its filing Monday with the US Securities and Exchange Commission. The company will not receive any proceeds of the share sale.