American Savings Bank Prices Upsized IPO at $16 per Share

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American Savings Bank has priced an upsized initial public offering of about 8.1 million common shares being sold by certain existing stockholders at $16 each, the company said Tuesday.

Underwriters have been granted a 30-day overallotment option to purchase up to about 1.2 million additional shares.

The company said it will not receive any proceeds from the offering, which is set to close Thursday.

The shares are expected to begin trading on the New York Stock Exchange this Wednesday under the ticker symbol, "ASBH."

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