Byline Bancorp, a Chicago bank, sets terms for $114 million IPO

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Byline Bancorp, a chicago bank with 56 branches and $3.3 billion in assets, announced terms for its IPO on Monday.

The Chicago, IL-based company plans to raise $114 million by offering 5.7 million shares (34% insider) at a price range of $19 to $21. At the midpoint of the proposed range, Byline Bancorp would command a fully diluted market value of $573 million.

Byline Bancorp was founded in 1978 and booked $99 million in revenue for the 12 months ended March 31, 2017. It plans to list on the NYSE under the symbol BY. BofA Merrill Lynch and Keefe Bruyette Woods are the joint bookrunners on the deal. It is expected to price during the week of June 26, 2017.

The article Byline Bancorp, a Chicago bank, sets terms for $114 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs
Referenced Symbols: BY

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