* To sell 11.8 mln shrs at between $16 and $18 each
* Market valuation to be more than $700 mln at top end of
* To list on NYSE under symbol 'BCC'
* IPO to price on Feb 5 - underwriters
Jan 23 Plywood and lumber maker Boise Cascade
said it plans to sell 11.8 million shares for between $16 and
$18 each in an initial public offering.
The company, which is backed by private equity firm Madison
Dearborn, will look to tap investor appetite amid an upturn in
the U.S. housing market.
It has more than 4,500 customers and expects to earn $39
million to $43 million on revenue of $2.18 to $2.20 billion in
2012, according to a regulatory filing. ()
Boise Cascade, whose products are used in new residential
construction and remodeling projects, will have a market
valuation of more than $700 million at the top end of the price
U.S. office supplies chain OfficeMax Inc has a 20
percent stake in the Boise, Idaho-based company. Madison will
continue to own a majority stake Boise Cascade after the IPO.
BofA Merrill Lynch and Goldman Sachs are lead underwriters
on the IPO. Deutsche Bank, J.P. Morgan, Wells Fargo Securities,
D.A. Davidson, Moelis & Company and Piper Jaffray are also
underwriting the offering.
The company plans to list its shares on the New York Stock
Exchange under the symbol "BCC."
Boise Cascade's IPO is expected to price on Tuesday, Feb. 5,
Shares of OfficeMax, which rose nearly 30 percent when Boise
filed for its IPO in November, closed at $11.14 on the New York
Stock Exchange on Tuesday.