Allegiance Bancshares, a commercial bank with 16 locations in Houston and $2 billion in assets, announced terms for its IPO on Monday.
The Houston, TX-based company plans to raise $60 million by offering 2.6 million shares at a price range of $22 to $24. At the midpoint of the proposed range, Allegiance Bancshares would command a fully diluted market value of $291 million.
Allegiance Bancshares, which was founded in 2007 and booked $93 million in revenue for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol ABTX. Baird and Stephens are the joint bookrunners on the deal. It is expected to price during the week of October 5, 2015.
The article Roadshow begins for Texas bank: Allegiance Bancshares sets terms for $60 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.