People's Bank to conclude stock offering From: New Haven Register | Date: April 12, 2007 | Copyright 2007 New Haven Register. Provided by ProQuest LLC.Copyright information

People's Bank said Wednesday it expects to close its stock offering and begin trading as a fully public company Monday.

The bank announced it expects to sell 172.23 million shares of common stock at $20 a share, for a total of $3.44 billion.

For the first 20 trading days, the stock will trade on the Nasdaq Stock Market Inc. under the symbol "PBCTD," and then will return to the current symbol, "PBCT."

People's Mutual Holdings, which previously held more than half the bank's stock shares, will cease to exist, and the new name of the bank's holding company will be People's United Financial Inc.

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