NEW YORK (

TheStreet

) --

BankUnited

plans to raise $630 million in an initial public offering -- twice as much as management originally filed to raise in October of last year.

BankUnited plans to sell four million shares, and current shareholders will sell 36.25 million shares for $23 to $25 a share, according to a

Securities and Exchange Commission filing

.

Shareholders of the bank include Wilbur Ross and BankUnited CEO John Kanas,

Carlyle Group LP

,

Blackstone Group

(BX) - Get Report

and

Centerbridge Partners

.

The bank was purchased from the

Federal Deposit Insurance Corp.

in May of 2009 following the financial crisis and its private equity investors have injected about $900 million into the bank, according to published reports.

Underwriters of the IPO are

Morgan Stanley

(MS) - Get Report

,

Bank of America Merrill Lynch

(BAC) - Get Report

,

Deutsche Bank

(DB) - Get Report

and

Goldman Sachs

(GS) - Get Report

.

--Written by Maria Woehr in New York.

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Maria Woehr

.

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