WASHINGTON (dpa-AFX) - American Savings Bank, N.A. announced the pricing of its upsized initial public offering, with about 8.057 million shares of common stock being sold by certain existing stockholders at $16.00 per share. The company said it will not receive any proceeds from the sale, as the offering is entirely by the selling stockholders.
The selling stockholders have also granted underwriters a 30-day option to purchase up to 1.209 million additional shares to cover over-allotments.
This pricing follows American Savings Bank's earlier announcement on September 8, 2026, when the bank launched its IPO roadshow. At that time, the company disclosed plans to offer about 7.50 shares of common stock, also to be sold by existing stockholders, with an expected price range of $15.00 to $17.00 per share.
The shares of common stock are expected to begin trading on the New York Stock Exchange on September 16, 2026, under the symbol 'ASBH.' The offering is expected to close on September 17, 2026.
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