TRI Pointe Homes sets terms for $176 million IPO


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TRI Pointe Homes, which designs, constructs and sells single-family homes in California, announced terms for its IPO on Wednesday. The Irvine, CA-based company plans to raise $176 million by offering 11.7 million shares (15% insider) at a price range of $14 to $16. At the midpoint of the proposed range, TRI Pointe Homes would command a fully diluted market value of $474 million. TRI Pointe Homes, which was founded in 2009 and booked $27 million in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol TPH. Citi, Deutsche Bank and FBR Capital Markets are the joint bookrunners on the deal.

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This article appears in: News Headlines , IPOs

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