June 25 Homebuilder Woodside Homes Inc filed
with U.S. regulators on Wednesday for an initial public offering
of its common stock.
The North Salt Lake City, Utah-based company said Credit
Suisse, JP Morgan and Deutsche Bank were among the underwriters
to the offering. (bit.ly/1qwPblx)
Woodside Homes develops and sells single-family homes across
seven primary markets in Arizona, California, Nevada, Texas and
The company set an initial target of up to $200 million for
the IPO, but it did not say how many shares it planned to sell
or their expected price.
Woodside Homes' stakeholders include private equity firm
Oaktree Capital Management LP, John Hancock Life Insurance Co
and Stonehill Institutional Partners.
Woodside Homes' revenue rose 23 percent to $94.5 million in
the quarter ended March 31. Net income more than doubled from a
year earlier to $11.4 million.
The company said it planned to use the IPO proceeds for
acquisitions, land development and general corporate purposes.
Woodside Homes intends to list its class A common stock on
the New York Stock Exchange under the symbol "WDS".
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.
(Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey)