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Installed Building Products Inc announces launch of initial public offering of common stock


Monday, 3 Feb 2014 06:36am EST 

Installed Building Products Inc:Announces the launch of its initial public offering of 9,000,000 shares of its common stock, 6,750,000 shares of which will be sold by the company and 2,250,000 shares of which will be sold by the selling stockholder.Expects the initial public offering price to be between $14 and $16 per share.Says the underwriters will have the option to purchase up to an additional 1,350,000 shares of common stock from the company.Says the company has applied to list its common stock on the New York Stock Exchange under the symbol 'IBP.Intends to use its net proceeds from the offering to repurchase all of its outstanding preferred stock and repay certain indebtedness.Says it will not receive any proceeds from the sale of shares by the selling stockholder.