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Bank of Guam shares offered to public – The Guam Daily Post

BankGuam Holding Company, parent company of Bank of Guam, announced it intends to raise up to $20 million in capital to support its future growth through a direct public offering of the company’s common stock.

The stock will be offered at $12.25 per share, subject to market and other conditions, according to the company.

The bank’s common stock is quoted on the OTC Pink marketplace, an interdealer quotation system, under the symbol “BKGMF”.

According to the bank’s prospectus, its last reported bid price of its common stock on Sept. 1, 2017, was $11.90 per share. The offering price of $12.25 per share will remain fixed for the duration of the offering, the company stated Thursday.

At the end of last year, the reported low sale price for the company’s common stock was $9 per share, and the reported high sale price was $15 per share, according to the company’s prospectus.

The minimum investment for a single investor is $50,000, the company stated.

“The additional capital will increase our capital levels, expanding our capacity to grow the institution,” said Lou A. Leon Guerrero, board chair, president and chief executive officer.

Leon Guerrero owns 41.78 percent of the bank’s outstanding shares of common stock.

Bank of Guam was incorporated in March 1972 and opened for business in December of that year.

The bank operates through 23 full-service branch offices, including 12 in Guam; two in Saipan and one each in Tinian and Rota, one in the Republic of Palau; one each in the States of Yap, Chuuk, Pohnpei and Kosrae in the Federated States of Micronesia; one in the Republic of the Marshall Islands; and one in San Francisco, California.

The company will host investor presentations on Guam and Saipan to discuss the offering, as well as the financial results of the company and its subsidiaries, including the bank.

In Guam, the presentations will be made at the Hilton Guam Resort and Spa’s Micronesia Ballroom on Oct. 12, from 8:30 to 10 a.m. and from 10:30 a.m. to noon, and on Oct. 17 from 1:30 to 3 p.m. and 3:30 to 5 p.m.

To register for the presentations, visit bghcstockpresentation.eventbrite.com.

Source: Google News : https://www.postguam.com/business/bank-of-guam-shares-offered-to-public/article_1f4e730e-a4bf-11e7-92f9-93401731f843.html

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