Log In

Reset Password

Butterfield shares surge 10%

Shares of Butterfield Bank today rose more than 10 per cent after the bank announced a target price of $22 to $25 per share for its initial public offering on the New York Stock Exchange.

Butterfield, in its first day trading since a ten-for-one reverse share split, closed at $19.40 in Bermuda Stock Exchange trading, up $1.80, as 1,500 shares changed hands.

As the biggest constituent on the BSX, the bank's sharp jump had a huge impact on the The Royal Gazette/BSX Index, which shot up 80.96 points, or 6.39 per cent, to 1,347.60.

The BSX Insurance Index ended the day up 12.50 points, or 0.74 per cent, at 1,691.71.

Big up day: The Royal Gazette/BSX Index rose more than 6 per cent

You must be Registered or to post comment or to vote.

Published September 06, 2016 at 8:06 pm (Updated September 06, 2016 at 8:06 pm)

Butterfield shares surge 10%

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon