CapStar Financial Holdings in Nashville, Tenn., whose board includes a top Credit Suisse executive, has filed plans to raise up to $46 million in an initial public offering.
Shares in the IPO will be sold by both the $1.3 billion-asset CapStar and by a separate group of shareholders, according to a registration statement. CapStar has not yet priced the offering. It will trade under the proposed ticker CSTR.
Corsair Capital in New York, the largest shareholder in CapStar with a 17% stake, will sell an undisclosed number of shares in the IPO. Other selling shareholders include the North Dakota State Retirement and Investment Office, which owns a 13% stake, and GSD Family Investments in Nashville, which owns 8%.
CapStar's board includes Richard Thornburgh, chairman of Credit Suisse Holdings USA and vice chairman of Credit Suisse Group. Thornburgh is also a member of the investment committee at Corsair.
CapStar was founded in 2008 and operates eight branches, all in the Nashville area. About 44% of its loan book is commercial-and-industrial loans, primarily to companies in the healthcare sector. Commercial real estate makes up about 31% of CapStar's loan book.
Keefe, Bruyette & Woods and Sandler O'Neill are financial advisers on the IPO. Waller Lansden Dortch & Davis is legal counsel to CapStar.