Peerless Group Inc., a provider of hardware and software to community banks, has gone public, raising about $12 million for corporate purposes.

The Richardson, Tex., company issued 2.44 million shares last week in an initial public offering. The stock was priced at $8 per share; nearly 60% was sold by the company, while the rest was offered by selling stockholders. The offering raised $19.2 million overall, of which $11.52 million went to the company.

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