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BankUnited prices upsized IPO at $27, above the range

January 27, 2011
BKU

BankUnited, a FL-based bank seized by the FDIC in 2009 and transferred to PE firms, raised $783 million by offering an upsized deal of 29 million shares at $27, above the range of $23-$25.00. It had originally filed to sell 26.25 million shares. BankUnited plans to list on the NYSE under the symbol BKU. Morgan Stanley, BofA Merrill Lynch and Deutsche Bank Securities acted as lead managers on the deal, which is only one of six scheduled to price tonight.