§ 192.330 - Pricing of conversion shares.

§ 192.330 How do I price my Pricing of conversion shares?.

(a) You In general. A savings association must sell your its conversion shares at a uniform price per share and at a total price that is equal to the estimated pro forma market value of your its shares after you convertthe conversion.

(b) Maximum price. The maximum price must be no more than 15 percent above the midpoint of the estimated price range in your the savings association's offering circular.

(c) Minimum price. The minimum price must be no more than 15 percent below the midpoint of the estimated price range in your the savings association's offering circular.

(d) Increase in price. If the appropriate Federal banking agency permits, you the savings association may increase the maximum price of conversion shares sold. The maximum price, as adjusted, must be no more than 15 percent above the maximum price computed under paragraph (b) of this section.

(e) Price range. The maximum price must be between $5 and $50 per share.

(f) You Inclusion in preliminary offering circular. The savings association must include the estimated price in any preliminary offering circular.