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)
NEW YORK - U.S. stocks edged modestly lower on Monday, and the S&P 500 held near record highs, as investors largely shrugged off unexpectedly weak data in China.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
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.