Opus Bank files for IPO

By Staff Reporter

Apr 04, 2014 05:05 PM EDT

Today, Opus Bank has announced launching its public debut. The commercial, correspondent and merchant bank listed offering 5,757,460 shares of common stock for its IPO. The shares were put on sale by the company and some shareholders in Opus Bank.

The underwriters of the deal were given a 30 day option to acquire 863,619 shares from the bank and its selling shareholders. This would cover over allotments in case there would be any. The public debut was priced between USD31 and USD34 per share piece. Opus Bank intends to be listed on the NASDAQ and would trade under the ticker symbol OPB.

The bank has already tapped JP Morgan Securities LLC, L.P, Keefe, Bruyette & Woods Inc, A Stifel Company, Sandler O’Neill & Partners and Credit Suisse Securities as joint book running managers for the deal.

Opus Bank is based in California with more than USD3.7 billion of listed assets. The bank also has a total of USD2.9 billion loans and USD2.7 billion deposits as of December last year.

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