NEW HOME CO. STOCK OFFERING
- Total shares offered: 7.8 million to 9 million
- Expected share price: $15 to $17
- Expected net proceeds: About $113 million
- Total outstanding shares after IPO: 16.4 million
The New Home Co. is set Friday to become the nation’s seventh private homebuilder in a year to go public, apparently believing that chances for a successful initial public offering have improved.
The 4-year-old Aliso Viejo builder was on the verge of going public in July but postponed its IPO amid cratering homebuilder stock prices, according to Builder Magazine.
Two other builders did worse than expected when they went public in July. Another local builder that had been considering an IPO, City Ventures of Newport Beach, is exploring the possibility of going forward with a stock sale as well as other options, a company executive said.
TRI Pointe Homes of Irvine ignited a wave of builder stock offerings with its successful launch last January – the first builder IPO in about eight years.BY JEFF COLLINS / STAFF WRITER OC Register