NEW YORK (
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
Shareholders of the bank include Wilbur Ross and BankUnited CEO John Kanas,
Carlyle Group LP
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
Bank of America Merrill Lynch
--Written by Maria Woehr in New York.
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