KBW, the parent of investment banking boutique Keefe, Bruyette & Woods, has raised the size of its initial public offering by 4.3% from 6.5 million shares to 6.8 million, which could raise up to $142.8m (€112m).

The firm is selling 3.9 million shares, an increase on the original figure of 3.75 million. Stockholders are selling 2.9 million shares instead of 2.77 million, according to a filing with the US Securities and Exchange Commission.