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What do you think about increases in parking fines and traffic tickets, plus more red light cameras?
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Nara Closes Stock Offering

Los Angeles Business Journal Staff

Nara Bancorp Inc. said that it netted $82 million from a secondary offering of its common shares that closed Tuesday.

The Los Angeles holding company for Nara Bank said it sold 10 million shares at $7.50 per share. Its underwriter, Keefe, Bruyette & Woods Inc., bought 1.5 million additional shares in its over-allotment option. Gross proceeds totaled $86.3 million.

Nara intends to use proceeds for general corporate purposes, which may include funding acquisitions, working capital and related regulatory capital needs.

Nara shares closed up 2 cents, or less than 1 percent, to $7.50 on the Nasdaq.


  February 8 - 14, 2010
LA Business News
Convention-al Appeal
New downtown hotels and a bustling L.A. Live scene are hailed as big convention business boosters.
Owner Back in the Saddle at Santa Anita Race Track
A deal with creditors will allow owner Frank Stronach to hold on to the reins of Santa Anita Park.
Unions Dropping Anchor in Long Beach?
The Port of Long Beach’s use of project labor agreements may maroon nonunion contractors.
Local Latinos Make Chinese Connection
A contingent of Latino officials from L.A. cities overcame culture clash on a recent trip to China.
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