Five insiders currently control about 71 percent of the outstanding stock of C1 Financial Inc., the St. Petersburg bank holding company that’s preparing to go public.
It’s unclear at this point how much their holdings could be diluted by an initial public offering. The bank, which indicated in a registration statement filed with the U.S. Securities and Exchange Commission that it expected to raise about $50 million in the IPO, has not said how many shares it plans to sell or at what price it will sell them.
Pre-IPO, the largest single stockholder is Marcel Faria de Lima, bank director, with 28.7 million shares, or 30.77 percent of the outstanding stock. With a net tangible book value pre-IPO of $1.48 per share, his holdings are currently worth about $42.5 million. Net tangible book value is total equity reduced by goodwill and other intangible assets divided by total common shares outstanding. The price of the stock offered in the IPO is likely to be higher.
Lima, a former commercial banker and investment banker, is an entrepreneur with interests in companies in the United States, Brazil, Mexico, Turkey, Denmark, Portugal and Russia.
Other major stockholders, their holdings and the pre-IPO value are:
Erwin Russel, a business partner of other principal stockholders, 15.3 million shares, 16.4 percent of the outstanding stock, $22.6 million
Marcio Camargo, also a business partner of other stockholders, 12.6 million shares, 13.44 percent of the outstanding stock, $18.7 million
Trevor Burgess, CEO, 8.9 million shares, 9.5 percent of the outstanding stock, $13.2 million
Phillip Burghardt, a founding director of the bank, 1.3 million shares, 1.4 percent of the outstanding stock, $1.9 million
NUVOLA........JUST GOT TO KNOW WHERE TO LOOK!!!!!!
