FirstCaribbean International Bank, a CIBC-owned bank operating in Barbados, the Bahamas and the Cayman Islands, postponed its IPO on Friday. It had filed to raise $226 million by offering 9.6 million shares (100% insider) at a price range of $22 to $25.
The Warrens, Barbados-based company was founded in 2002 and booked $495 million in sales for the 12 months ended January 31, 2018. It had planned to list on the NYSE under the symbol FCI. Barclays, UBS Investment Bank and CIBC were set to be the joint bookrunners on the deal.
