SAN FRANCISCO -- BankUnited Inc. shares rose more than 4% Friday as the previously failed Florida-based lender returned to the stock market via an initial public offering. BankUnited was planning to sell 26.25 million shares at $23 to $25 each. However, the bank increased the size and price of the offering, selling 29 million shares at $27, raising roughly $783 million. BankUnited failed during the financial crisis. The Federal Deposit Insurance Corp. seized the lender and sold it to group of investors including banker John Kanas and WL Ross & Co., Carlyle Group, Blackstone Group , and Centerbridge Partners. Of the total shares sold, only 14% came from the bank itself. The majority, 25 million, were sold by its private investors. WL Ross, Carlyle, Blackstone, Centerbridge and Kansas all registered to sell stakes in the deal, though all continue to hold significant stakes, according to Dow Jones Newswires. BankUnited shares recently traded at $28.23, up 4.6%.
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