Bank United story updated to reflect recent share price.

NEW YORK (

TheStreet

) --

BankUnited

(BKU) - Get Report

shares, which debuted on the

New York Stock Exchange

Friday following a $783 million initial public offering Thursday, were down from their open levels.

BankUnited sold 29 million shares at $27 each, which was above their initial range of 26.25 million shares at $23 to $25 each. The stock, which opened Friday at $29.50, was recently trading at $28.29.

BankUnited's IPO is the first offering since the 2008 financial crisis of a failed institution that has been turned around by private equity. Many

other banks could follow

BankUnited into the public markets, including

Ally Bank

and

OneWest Bank

, formally IndyMac.

BankUnited's owners

WL Ross & Co.

,

Centerbridge Partners

,

Blackstone Group

(BX) - Get Report

and

Carlyle Group

could see a gain as high as

$1.2 billion on the offering.

--Written by Maria Woehr in New York.

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Maria Woehr

.

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