Texas-based Independent Bank Group sets terms for $80 million IPO

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Independent Bank Group, a Texas-based bank with 30 offices serving the Dallas-Forth Worth metropolitan area, announced terms for its IPO on Monday. The McKinney, TX-based company plans to raise $80 million by offering 3.2 million shares at a price range of $24 to $26. At the midpoint of the proposed range, Independent Bank Group would command a fully diluted market value of $292 million. Independent Bank Group, which was founded in 1988 and booked $81 million in sales for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol IBTX. Independent Bank Group initially filed confidentially on 12/28/2012. Sandler O'Neill, Evercore Partners and Keefe Bruyette Woods are the joint bookrunners on the deal.



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



This article appears in: News Headlines , IPOs

Referenced Stocks: IBTX

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