Nara Bancorp Inc. in Los Angeles said late Monday that it completed a $63.3 million public offering of its common stock.
The $3 billion-asset company said it sold about 8.7 million shares at $7.25 each. Net proceeds from the offering totaled $59.7 million.
Nara has said it would use some of the proceeds from the sale for its pending acquisition of Center Financial Corp. Nara ended up scaling back its fund-raising plans; it originally intended to raise $150 million.
Nara has said that it expects to complete the Center acquisition this quarter.
