Your SlideShare is downloading. ×
0
Two bank holding companies set IPO price ranges talinec holdings ltd
Two bank holding companies set IPO price ranges talinec holdings ltd
Two bank holding companies set IPO price ranges talinec holdings ltd
Two bank holding companies set IPO price ranges talinec holdings ltd
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Two bank holding companies set IPO price ranges talinec holdings ltd

188

Published on

(Reuters) - Two bank holding companies on Monday set price ranges for initial public offerings, in a sign that IPO activity is picking up in the financial sector after a slow year so far. …

(Reuters) - Two bank holding companies on Monday set price ranges for initial public offerings, in a sign that IPO activity is picking up in the financial sector after a slow year so far.
In the larger of the two planned IPOs, Capital Bank Financial Corp, a holding company started by former Bank of America Corp (BAC.N) executives in the aftermath of the financial crisis, said it plans to sell 11.4 million shares at between $21 and $23 each.
National Bank Holdings Corp, led by a former Bank of America Corp and Regions Financial Corp (RF.N) executive, said it plans to sell 7.2 million shares at $20 to $22 apiece.

1 Comment
0 Likes
Statistics
Notes
  • I’ve been surfing online more than three hours today, yet I never found any interesting article like yours. It is pretty worth enough for me.
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Be the first to like this

No Downloads
Views
Total Views
188
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
0
Comments
1
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. (Reuters) - Two bank holding companies on Monday set price ranges for initial public offerings, in a sign that IPO activity is picking up in the financial sector after a slow year so far.In the larger of the two planned IPOs, Capital Bank Financial Corp, a holding company started by former Bank of America Corp (BAC.N) executives in the aftermath of the financial crisis, said it plans to sell 11.4 million shares at between $21 and $23 each.
  • 2. National Bank Holdings Corp, led by a former Bank of America Corp and Regions Financial Corp (RF.N) executive, said it plans to sell 7.2 million shares at $20 to $22 apiece. Including additional shares that could be sold to underwriters, Capital Bank Financial could raise more than $300 million, while National Bank Holdings could bring in more than $180 million, according to their filings. So far this year, there have been fewer financial IPOs than in2011, according to market intelligence firm Ipreo, with 16 dealsraising $4.2 billion on U.S. exchanges. At this time last year, 19 financial IPOs had raised $5.2 billion. Financial IPOs have slightly underperformed the broader market, with these newly public companies in the sector up17.8 percent since January, compared to 20.9 percent across all industries.
  • 3. National Bank Holdings is on the IPO calendar for next Thursday along with another financial sector firm -- Spirit Realty Capital, acommercial real estate investing firm. A date hasnt been set for Capital Bank Financial. Capital Bank Financial and National Bank Holdings were among several entities to raise funds after the financial crisis of 2008, asinvestors bet they could buy banks on the cheap, and take them public or sell them later at a profit. Capital Bank Financial, formerly known as North American Financial Holdings, is led by former Bank of America executives Gene Taylorand Chris Marshall, who raised $900 million from investors in 2009 to buy troubled banks. Before renaming itself, North American bought or invested in six banks, including Raleigh, North Carolina-based Capital Bank (CBKN.O). As Capital Bank it agreed to buy Southern Community Financial (SCMF.O).
  • 4. Capital Bank Financial is offering 5.68 million shares and some of itsstockholders are also offering the same amount, the bank said. It has applied to list on the Nasdaq Global Select Market under the ticker symbol "CBF". After its Southern Community Financial acquisition, Capital Bank Financial will have about $7.7 billion in assets and 165 branches in Tennessee, Florida, North Carolina, South Carolina and Virginia. National Bank Holdings, which is led by Chief Executive Timothy Laney, raised about $974 million in 2009. It has made fouracquisitions and had about $5.8 billion in assets as of June 30. It has 101 branches, mostly in the greater Kansas City region and Colorado. The bank has applied to list its shares on the New York Stock Exchange under the ticker symbol "NBHC".

×