Shares of homebuilder The New Home rise in debut
(Reuters) - Shares of homebuilder The New Home Company LLC (NWHM.N), rose as much as 6 percent in their trading debut, valuing the company at about $191.5 million.
The California-based company raised $86 million after its initial public offering of 7.8 million shares was priced at $11 each, significantly below its expected pricing range of $15-$17.
All the shares in the offering were sold by the company, which focuses on design, construction and sale of homes mainly in California, including coastal Southern California, the San Francisco Bay area and metro Sacramento.
The company's shares opened at $11.50 and touched a high of $11.64 on the New York Stock Exchange.
Goldman Sachs, Credit Suisse, Deutsche Bank and Merrill Lynch, Pierce, Fenner & Smith were lead underwriters to the offering.
(Reporting By Neha Dimri in Bangalore; Editing by Joyjeet Das)
FOX LAKE Ill. - The news about deadly crashes linked to a faulty ignition switch, followed by wave upon wave of recalls, did not bode well for General Motors dealers earlier this year. It conjured visions of worried, frustrated drivers pouring onto lots like Raymond Chevrolet, outside of Chicago.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.