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Oct 31 (Reuters) – Central Bancompany said on Friday that it was targeting a valuation of up to $5.72 billion in its U.S. initial public offering, in a rare move for a U.S. bank looking for a fresh flotation.

The Jefferson City, Missouri-based lender is looking to raise as much as $426.7 million by offering 17.8 million shares priced between $21 and $24 each and reinforcing a strong demand for IPOs in the market.

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However, a government shutdown in October has pulled the brakes on appetites for IPOs, hindering activity with short-term delays.

“The United States government shutdown took the Securities and Exchange Commission offline at exactly the wrong time, like a DJ walking away mid-drop,” said Michael Ashley Schulman, partner and chief investment officer at Running Point Capital.

Since the 2008 financial crisis, U.S. bank IPOs have been rare, as tighter regulations, rising compliance costs and market volatility reduced the appeal of public listings.

“For banking and finance specialists that have seen their pool grow smaller through M&A (and the occasional bellyflop), this will be a welcome addition,” Schulman said.

Central Bancompany has total balance sheet assets of $19.2 billion and wealth assets under advice of $15.4 billion, serving consumers and businesses in Missouri, Kansas, Oklahoma, Colorado and Florida.

Morgan Stanley and Keefe, Bruyette & Woods are the joint lead book-running managers for the offering.

Central Bancompany intends to list its shares on the Nasdaq Global Select Market under the ticker symbol “CBC”.

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He proudly celebrates his upcoming 20th anniversary at Leonardo. Having joined the company as a graduate student in Electronic Engineering at the University of Genoa, writing a thesis on security applied to networking equipment, 43-year-old electronic engineer Enrico Giacobbe has held numerous positions, from developing products for defence and space to providing security services for institutions and critical infrastructure, prior to his current role as Head of Global Cyber Consultancy & Advisory. This is a high responsibility role, leading a team of about 100 people in Italy and abroad, which designs and manages security solutions for over 160 customers worldwide.

“The Global CyberSec Center manages end-to-end security for the Division’s customers, carrying out projects and providing services ranging from predictive analysis, protection and real-time monitoring to cyber incident response. Leonardo‘s work is crucial for protecting strategic assets, including critical data and infrastructure, for the benefit of public administrations, institutions and companies,” explains Enrico. In a context of hybrid threats and geopolitical upheavals, the work carried out by this international team guarantees security for numerous organisations.

This sector is rapidly growing, which is why Leonardo has developed a targeted programme for recruiting young talent with STEM training. “We are looking for talented young people who are capable, passionate and motivated by desire to learn, become professionals and grow within the company: this is why we consider our collaboration with Higher Technical Institutes (ITS) and universities to be very fruitful. I tell new recruits about my career path, because I understand the uncertainties and doubts of those in their twenties who are taking their first steps in a large company. But,” Enrico adds, “as it was for me, there are many opportunities at Leonardo: it is a company that allows you to gain important international experience and that values people who are committed to achieving short- and long-term goals with competence and a strong sense of responsibility.”

Enrico’s suitcase is always packed and ready to meet clients and partners in Italy and Europe: “I obtained a diploma in electronics and a degree in electronic engineering, and then went on to work in cybersecurity with a business perspective.” Half-jokingly, he adds: “One of two things: am I a boring person? I would say, rather, a consistent person.”

Pfizer is suing over some unsolicited competition in its nearly $5 billion bid to buy the drugmaker Metsera.

New York-based Pfizer said Friday after markets closed that it was suing Metsera and a third drugmaker, Denmark’s Novo Nordisk, over a bid for Metsera that Novo announced Thursday.

Novo said it planned to buy Metsera in a deal that could be worth up to $9 billion, and Metsera said the offer appeared to be superior to Pfizer’s bid, which was announced in September.

Metsera Inc. has no products on the market, but it is developing potential oral and injectable treatments. That includes some potential treatments that could target lucrative fields for obesity and diabetes.

Novo already has the treatments Wegovy and Ozempic on the market in those respective categories.

Pfizer said the offer from Novo cannot be considered superior to its bid because it carries significant regulatory risk that makes it unlikely to be completed.

Pfizer, which ended development of a potential pill to treat obesity this spring, also said Novo’s offer represents “an illegal attempt by a company with a dominant market position to suppress competition.”

Representatives of both Novo and Metsera did not immediately respond to requests for comment from The Associated Press.

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First Guaranty said it has a $52 million credit exposure tied to commercial lease financing to entities related to an unnamed auto parts manufacturer that declared Chapter 11 bankruptcy during the third quarter.

“We are continuing to monitor our loan portfolio and are working to de-risk the bank,” CEO Michael Mineer said in an emailed statement to Reuters.

“We are monitoring all events related to our large recent issue and will continue to assess our reserve and are working in conjunction with our servicer of the lease.”

The lender did not respond to Reuters’ request for the name of the bankrupt auto parts maker.

Provision for credit losses vaulted to $47.9 million in the quarter from $4.9 million a year earlier.

First Guaranty’s shares fell another 1.2% on Friday, following a 17.5% plunge in the previous session to a seven-month low. On Thursday, the lender released its quarterly call report, a regulatory filing that provides details about the bank’s financial health.

The bank’s stock is down 42.3% year-to-date.

“We have taken proactive steps to reserve against the credit, given the current known facts. We anticipate further clarification of our position in the fourth quarter,” Mineer said in a statement.

“For the time being, we will retain the high level of reserve against these commercial lease credits.”

The bank swung to a net loss of $45 million, or $3.01 per share, in the three months ended September 30, versus a net profit of $1.9 million, or 11 cents per share, a year earlier.

It booked a $12.9 million goodwill impairment charge in the quarter, as its stock trades below book value and higher provisions.

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