UPDATE 1-Iberiabank starts $300 mln stock offering
March 2 |
March 2 (Reuters) - Bank holding company Iberiabank Corp (IBKC.O) said it started a public offering of $300 million of its common shares, with an over-allotment option of 15 percent.
The company plans to use net proceeds from the issue to fund future acquisitions, which may include FDIC-assisted transactions, besides general corporate purposes.
Goldman Sachs & Co. and Keefe, Bruyette & Woods will be joint bookrunning lead managers, Iberiabank said in a statement.
Shares of the Lafayette, Louisiana-based company closed at $57.94 Monday on Nasdaq. (Reporting by Archana Shankar in Bangalore; Editing by Gopakumar Warrier)
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