Investment bank Imperial Capital seeks $150 mln IPO
Boutique investment bank Imperial Capital Group Inc is planning to raise as much as $150 million in an initial public offering.
Imperial Group offers sales and trading services to institutional investors, a wide range of investment banking advice, and capital markets and restructuring services to middle market clients, according to a prospectus filed on Wednesday with the U.S. Securities and Exchange Commission.
The Los Angeles bank had revenues of $59.4 million in the first six months of 2009, up 33.4 percent over the year earlier period, while net income nearly doubled to $9.6 million.
The IPO is being managed by Bank of America Merrill Lynch, JMP Securities and Imperial Capital.
(Reporting by Phil Wahba; Editing Bernard Orr)
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