(Reuters) -Central Bancompany raised $373.33 million in its U.S. initial public offering on Wednesday, positioning the lender for its debut during a period of renewed investor scrutiny of regional banks amid private credit jitters.
The Jefferson City, Missouri-based lender sold 17.78 million shares priced at $21 apiece in the IPO, compared with its marketed range of $21 to $24 each. The sale values the company at $5.01 billion.
Stock listings in the U.S. are expected to pick up in the December window as the Securities and Exchange Commission resumes operations after the longest-ever U.S. government shutdown had halted IPO filing reviews, disrupting the busiest IPO fall window since 2021.
Tighter regulations along with rising compliance and technology costs have made bank IPOs a rare occurrence, with several investors and analysts suggesting consolidation among regional lenders as the best way to compete with larger banks.
While big banks benefit from the diversification of revenue streams and geographic presence, small banks are being closely watched due to their exposure to recent corporate bankruptcies, raising questions over the opacity and complications of lending standards and structures across the multi-trillion-dollar global private credit market.
Commercial Bancgroup, which went public last month, trades marginally above its IPO price, as of last close.
Central Bancompany has total balance sheet assets of $19.2 billion and wealth assets under advice of $15.4 billion, serving consumers and businesses in Missouri, Kansas, Oklahoma, Colorado and Florida.
Morgan Stanley and Keefe, Bruyette & Woods are the joint lead book-running managers for the offering.
The company is set to debut on the Nasdaq on Thursday, under the ticker symbol “CBC”.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Vijay Kishore and Alan Barona)
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