Florida bank prices first US IPO of the year

Bancshares of Florida, the regional bank holding company, has launched the first US initial public offering of the year, raising $9m (€8.4m).

The IPO was set to go ahead last year, but was postponed in mid-December due to market conditions. It has now overtaken Infinity Property and Casualty, the US car insurance firm, to be the first US IPO this year.

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