BankUnited and a consortium of its current share holders are planning to raise about $650 million in an initial public offering (IPO), The Wall Street Journal reports. The Florida bank seeks to sell 4 million shares, while the holders will sell 22.25 million, for $23 to $25 per share.
The group of holders, selling the shares includes investors Wilbur Ross and John Kanas, CEO of the company. In October, BankUnited had filed to raise up to about $300 million.
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