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Diamond Resorts International Inc Expects 15.5 Million IPO to Price at $16 to $18 a Share-DJ


Tuesday, 9 Jul 2013 07:29am EDT 

Dow Jones reported that Diamond Resorts International Inc said it expects its initial public offering (IPO) of 15.5 million shares to price between $16 and $18 a share. Diamond is selling 14 million shares, with the rest being offered by a selling shareholder. Last month, Diamond filed for an IPO, saying it would be up to $200 million in common stock. On July 19, 2013, it said the IPO was worth up to $320.9 million. The Company is aiming to raise funds to help pay down debt and fund working capital and other general corporate purposes. The hospitality and vacation-ownership company manages 80 Diamond Resorts-branded resort properties in the U.S., Mexico, the Caribbean and Europe. Diamond Resorts intends to list on the New York Stock Exchange under the symbol DRII. 

Company Quote

32.06
0.05 +0.16%
1 May 2015