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Vacation club Diamond Resorts files for a $200 million IPO
By: Renaissance Capital
Diamond Resorts International, a vacation club with more than 490,000 members and 295 vacation destinations, filed on Friday with the SEC to raise up to $200 million in an initial public offering. The Las Vegas, NV-based company, which was founded in 1996 and booked $568 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol DRII. Diamond Resorts International initially filed confidentially on January 24, 2013. Credit Suisse, BofA Merrill Lynch, J.P. Morgan and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.