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Amalgamated Bank launches IPO

New York-based Amalgamated Bank launched its initial public offering of 6.7 million Class A common shares.

The shares are expected to be priced between $15.00 and $17.00 per share and to trade on the Nasdaq Global Market under the ticker symbol AMAL.

The underwriters have a 30-day option to purchase up to an additional 1.0 million shares.

The shares will be offered by certain selling stockholders. Amalgamated Bank will not receive any proceeds from the offering.

Barclays, J.P. Morgan and Keefe Bruyette & Woods will act as joint book-running managers. Piper Jaffray & Co., Raymond James & Associates Inc. and Sandler O'Neill & Partners L.P. are acting as co-managers.