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News Story
PlainsCapital Postpones IPO Citing Recent Volatility In Financial Markets
Wednesday November 04, 2009 21:16:00 EST
(RTTNews) - PlainsCapital Corp., a diversified financial services company headquartered in Dallas, Texas, announced that it is postponing its planned initial public offering of common shares due to recent volatility in the financial markets.
PlainsCapital, which has been approved to list on the New York Stock Exchange under the ticker symbol "PCB.", recently disclosed that it expects to price initial public offering of 15 million shares in the range of $14 to $16 per share.
Alan White, Chairman and CEO of PlainsCapital, stated, "The current market volatility, especially as it affects financial stocks, has created unfavorable conditions for the offering. We have decided to postpone the IPO and wait for an improved market environment."
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