First Carolina Financial Sets IPO at 5.5 Million Shares Priced at $14-$16 Each

About this update from First Carolina Financial Services, Inc.

By Colin Kellaher First Carolina Financial Services on Monday said it plans to sell 5.5 million shares at between $14 and $16 apiece in its initial public offering. At the $15 midpoint of that price range, the Raleigh, N.C., bank holding company said it expects net proceeds of about $73.6 million, or around $85.1 million if the underwriters exercise an option to buy an additional 825,000 shares. First Carolina said it has applied to list its shares on the New York Stock Exchange under the symbol FCBM. Write to Colin Kellaher at [email protected]

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