Bank Of Butterfield Announces Closing Of IPO

September 21, 2016

In a filing with the Bermuda Stock Exchange, the Bank of Butterfield announced the closing of their Initial Public Offering.

The filing stated that the Bank announced the closing of its previously announced initial public offering [IPO] of 12,234,042 of its voting ordinary shares at a price to the public of $23.50 per share.

“The shares began trading on 16 September 2016 on the New York Stock Exchange under the ticker symbol NTB,” the filing said.

“The offering of 12,234,042 Common Shares consisted of 5,957,447 Common Shares sold by Butterfield and 6,276,595 Common Shares sold by certain selling shareholders, including 1,595,744 Common Shares sold by certain of the Selling Shareholders pursuant to the underwriters’ option to purchase additional shares, which was exercised in full prior to the closing.

Goldman, Sachs & Co., Citigroup and Sandler O’Neill & Partners acted as the joint book-running managers, and Keefe, Bruyette & Woods, Raymond James and Wells Fargo Securities acted as co-managers for the offering.

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