Feb 5 Shares of Continental Building Products
Inc, controlled by private equity firm Lone Star Funds,
rose as much as 11 percent in their market debut, valuing the
company at about $682 million.
The company raised $165.2 million after its initial public
offering of 11.8 million shares was priced at $14 per share,
significantly below its expected range of $16-$18.
The Reston, Virginia-based company's shares opened at $14.66
and touched a high of $15.48 on the New York Stock Exchange on
Continental Building was created after Lone Star bought
cement maker Lafarge SA's North American gypsum
business in June.
Continental Building posted a net loss of $2.8 million on
revenue of $287.9 million in the nine months ended Sept. 30.
Citigroup Global Markets Inc, Credit Suisse Securities (USA)
LLC, Barclays Capital Inc, Deutsche Bank Securities Inc and RBC
Capital Markets LLC were the lead underwriters of the offering.