Sunday, November 08, 2009
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Parent of Territorial Savings Bank plans to go public
POSTED: 02:11 p.m. HST, Nov 18, 2008
Territorial Mutual Holding Co., the parent company of Territorial Savings Bank, is planning to go public next year as Territorial Bancorp Inc.
The company will issue up to 12.6 million shares of common stock on the Nasdaq Global Select Market under the symbol “TBNK,” according to a U.S. Securities and Exchange Commission filing dated Friday.
All shares of common stock are being offered for sale at a price of $10 a share, with the offering expected to raise $125.6 million. The company must sell a minimum of 8.1 million shares, raising $80.8 million, to complete the offering.
Territorial Savings is headquartered in Honolulu and has 24 full-service branches in Hawaii.
It would be the first Hawaii company to go public since Kapolei-based alternative energy firm Hoku Scientific Inc. in August 2005.
Territorial Mutual Holding Co., the parent company of Territorial Savings Bank, is planning to go public next year as Territorial Bancorp Inc.
The company will issue up to 12.6 million shares of common stock on the Nasdaq Global Select Market under the symbol “TBNK,” according to a U.S. Securities and Exchange Commission filing dated Friday.
All shares of common stock are being offered for sale at a price of $10 a share, with the offering expected to raise $125.6 million. The company must sell a minimum of 8.1 million shares, raising $80.8 million, to complete the offering.
Territorial Savings is headquartered in Honolulu and has 24 full-service branches in Hawaii.
It would be the first Hawaii company to go public since Kapolei-based alternative energy firm Hoku Scientific Inc. in August 2005.
Today’s Edition
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- Calls for tax hike piling on reluctant lawmaker
- Retailers on guard as crooks ram vehicles into properties
- County pandemic plans to apply to overall state response strategy
- State welfare payouts drop as numbers of needy grow
- Earlier primary voting considered
- Whatever Happened To: Case of baby who died in Customs heads to trial after failure to settle
- Newswatch
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- Windfall is seen as bank bonuses are paid in stock
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- Drawing attention
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- Warriors find winning formula
- Feeding frenzy for UH backs
- Porous run defense deflates Utah State
- Short snaps: UH vs. Utah State
- Further Review: Old-school running game keyed UH's feel-good win
- Amis out indefinitely with foot injury
- UH's Lee lifts Hawaii's spirit
- Farrington finds a way
- 'Iolani rolls Damien to prepare for states
- Hawaii Beat
- Scoreboard
- Television & Radio
- New kite business takes off
- Business briefs
- It's not too late to cut tax liability
- Hawaii Real Estate Sales
- Tracking Hawaii's student stock pickers
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