According to the IbTimes, Shares of BankUnited surged as much as 9.3 percent in their debut, on speculation that the cleaned-up Florida lender will be one of the winners in the aftermath of the U.S. financial crisis. The company sold 29 million shares in an initial public offering that priced at $27 under which BankUnited sold 4 million shares in its IPO, while existing stockholders sold 25 million. The BankUnited investors include big names such as financier Wilbur Ross and private-equity giants Blackstone Group, Carlyle and Center Bridge. Their combined take from the IPO is around $900 million. The stock is trading at more than two times tangible book value, more expensive than its peers that trade around 1.8times tangible book value.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.