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Newsletter
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.
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