Byline Bancorp Sets IPO Terms To Raise Up To $119.7 Million

Byline Bancorp set terms of its proposed 5.7-million-share initial public offering, which the Chicago-based bank expects to price between $19 and $21 a share. The company said it was selling 3.78 million shares in the offering and selling stock holders were selling 1.92 million shares. If the underwriters exercise all the options granted to cover overallotments, the company could sell 6.56 million shares to raise $137.66 million. The stock is expected to trade on the New York Stock Exchange under the ticker symbol "BY." BofA Merrill Lynch and Keefe, Bruyette & Woods are the lead underwriters of the offering.