Sullivan & Cromwell Advises Central Bancompany on $373 Million IPO Valuing Company at $5.26 Billion

"Sullivan & Cromwell LLP advised Central Bancompany on its $373 million initial public offering on the Nasdaq Global Select Market, valuing the company at $5.26 billion. The offering sold 17.8 million shares at $21, included a 30-day underwriter option, and marked the largest U.S. bank IPO in over eight years."

Sullivan & Cromwell LLP advised Central Bancompany in connection with its $373 million initial public offering on the Nasdaq Global Select Market. The IPO closed with gross proceeds of $373 million and valued Central Bancompany at $5.26 billion. The offering consisted of the sale of 17.8 million shares at $21 per share and included a 30-day option for the underwriters to purchase additional shares of common stock. Central Bancompany shares rose approximately 5% in their Nasdaq trading debut. According to LSEG, the transaction represented the largest U.S. bank IPO in more than eight years and was completed amid the longest U.S. government shutdown in history, an event that produced delays across the IPO market. Central Bancompany’s banking subsidiary, The Central Trust Bank, is a $19.2 billion Missouri state-chartered trust company with banking powers and is a Federal Reserve state member bank. The bank operates more than 156 locations in 79 communities across Missouri, Kansas, Oklahoma, Colorado and Florida. Sullivan & Cromwell LLP represented Central Bancompany with a team composed by: Cathy Clarkin and Jared Fishman (led the team), Ben Rump, Sam Xu and Ryan Lessing.

Sullivan & Cromwell Advises Central Bancompany on $373 Million IPO Valuing Company at $5.26 Billion

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