CINCINNATI – Fifth Third Bancorp, which created processing giant Vantiv, Inc. and helped take it public earlier this year, expects to earn as much as $280 million with the sale of as many as 13.6 million Vantiv shares registered last week.

Fifth Third said it plans to sell at least 12.45 million Vantiv shares and as many as 1.2 million more share to underwriters in an over-allotment.

After the sale, Fifth Third, which established Vantiv, then known as Fifth Third Processing Solutions, in 2009 through a joint venture with Advent International, will continue to hold an 18.5% stake in the company, which processes cards for more than 800 credit unions.

 

 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.