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Homebuilder Smith Douglas seeks over $1 billion valuation in US IPO

Published 01/03/2024, 08:03 AM
Updated 01/03/2024, 08:16 AM
© Reuters.

(Reuters) - Smith Douglas Homes is seeking a valuation of $1.08 billion in its U.S. initial public offering, the homebuilder said in a regulatory filing on Wednesday.

Smith Douglas, which builds and sells single-family homes, is offering nearly 7.7 million shares at the price expected between $18 and $21 apiece, its filing showed, potentially raising $161.5 million at the top end of the range.

The IPO market saw signs of revival last year with marquee listings of SoftBank (TYO:9984)'s chip designer Arm and grocery delivery service Instacart (NASDAQ:CART).

However, the sector has tempered down in recent market debuts with several new entrants failing to make a mark after their listings.

© Reuters. FILE PHOTO: A

The company plans to list its shares on New York Stock Exchange under the symbol "SDHC", Smith Douglas Homes said.

JPMorgan and Bank of America are the lead underwriters for the offering.

 

 

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