Shares in Green Bancorp jumped nearly 14% following the Houston companys initial public offering.
The companys stock closed Friday at $17.05 a share. Each share began trading at $15, raising more than $80 million for the $1.8 billion-asset company.
A portion of the offerings net proceeds will be used to pay for Green's planned $46 million acquisition of SP Bancorp in Plano, Texas. The remaining funds will be for used for general corporate purposes, the company said.
Sandler O'Neill, Jefferies, J.P. Morgan, RBC Capital Markets and Keefe, Bruyette & Woods acted as joint book-running managers.