Taylor Morrison raises $628.3 million in upsized deal

April 9 Tue Apr 9, 2013 7:13pm EDT

April 9 (Reuters) - Taylor Morrison Home Corp raised $628.3 million in its public offering on Tuesday, as investors continue to bet on a recovery in the U.S. housing market.

Scottsdale, Arizona-based Taylor Morrison priced 28.6 million shares at $22, according to an underwriter. Shares of the homebuilder were expected to price in a range of $20 to $22. The offering was also upsized from an original size of 23.8 million shares.

Taylor Morrison, whose owners include private equity firms TPG Capital and Oaktree Capital Management LP, is just the latest in a slew of IPOs from companies tied to the housing sector as record-low mortgage rates and rising selling prices are driving up industry demand.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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