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FCB Financial Holdings prices IPO at $22 low end of the revised range

By: Renaissance Capital
Posted: 8/1/2014 8:55:00 AM
Referenced Stocks: FCB

FCB Financial Holdings, a Florida-based bank formed through acquisitions of eight failed banks, raised $165 million by offering 7.5 million shares (39% from insiders) at $22, the low end of the range of $22-$23. The company had originally planned to sell 8.715 million shares (50% from insiders) at $24-$27 before reducing the insider selling component and cutting the range on Thursday. FCB Financial Holdings plans to list on the NYSE under the symbol FCB. Deutsche Bank, J.P. Morgan, BofA Merrill Lynch and UBS acted as lead managers on the deal.