Dec 5 Taylor Morrison Home Corp filed with U.S.
regulators to raise up to $250 million in an initial public
offering of its class A common stock.
Following the offering, Taylor Morrison will become the
sixth-largest listed homebuilder in North America based on 2011
revenue, the company said in a preliminary prospectus.
For the year ended December 31, 2011, Taylor Morrison posted
revenue of $1.37 billion.
D.R. Horton Inc, PulteGroup Inc and Lennar
Corp are the top 3 U.S. home builders.
The housing market in the United States has recovered this
year as record low interest rates and rising rents have pushed
many consumers to buy homes. Economists expect residential
construction to add to economic growth this year for the first
time since 2005.
U.S. home prices posted their biggest annual jump in more
than six years in October, data analysis firm CoreLogic
said on Tuesday.
Taylor Morrison, backed by Oaktree Capital Management, TPG
Global and JH Investments Inc, said Credit Suisse and Citigroup
are lead underwriters to the offering.
The company said it intends to list under the symbol "TMHC,"
but did not reveal which exchange it would list its shares on.
The filing did not reveal how many shares the company plans
to sell or their expected price.
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.