Colorado-based homebuilder Century Communities has launched its IPO after pricing its 4.48 million shares at $23 per share. The stock began trading Wednesday on the NYSE under the ticker symbol “CCS.” FBR, J.P. Morgan and Deutsche Bank Securities are the lead underwriters. Its backers include Luxor Capital Group, BlueMountain Capital Management and Claren Road Asset Management.
GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)– Century Communities, Inc. (the “Company”) today announced the pricing of its initial public offering of 4,480,000 shares of its common stock, consisting of 4,000,000 shares which will be sold by the Company and 480,000 shares which will be sold by certain stockholders of the Company, at a price of $23.00 per share. The shares are expected to begin trading on the New York Stock Exchange on June 18, 2014 under the symbol “CCS.” The Company has granted the underwriters a 30-day option to purchase up to an additional 672,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on June 23, 2014, subject to the satisfaction of customary closing conditions.
FBR, J.P. Morgan and Deutsche Bank Securities are acting as book-runners of the offering. Zelman Partners LLC and Builder Advisor Group are acting as co-managers.
ABOUT CENTURY COMMUNITIES:
Colorado-based Century Communities is a builder of single-family homes, townhomes and flats in select major metropolitan markets in Colorado, Texas, and Nevada. Century Communities is a top 50 homebuilder.