RBB Bancorp Raises $86 Million in IPO

(Photo credit: RBB)

LOS ANGELES-Downtown’s RBB Bancorp joined the ranks of public companies Wednesday with an $86 million initial public offering on the Nasdaq.

The bank priced its offering at $23, with 3.75 million shares put on the market. The stock was up 1.5 percent at the close of trading Wednesday at $23.35, giving RBB Bancorp a market cap of just under $350 million. That would be good enough for No. 84 on the Business Journal’s list of public companies in Los Angeles ranked by market cap.

(Photo credit: RBB)

RBB Bancorp, which operates as Royal Business Bank and is listed as RBB, has $1.5 billion in assets and operates 10 branches in L.A. County with other locations in Ventura County and Las Vegas.

(Photo credit: RBB)

(Article by LA Business Journal)

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