Century Communities, a single-family homebuilder and land developer in the western US, announced terms for its IPO on Thursday. The Greenwood Village, CO-based company plans to raise $110 million by offering 4.5 million shares (11% insider) at a price range of $23 to $26. At the midpoint of the proposed range, Century Communities would command a fully diluted market value of $526 million.
Century Communities, which was founded in 2002 and booked $287 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol CCS. It initially filed confidentially on September 16, 2013. FBR Capital Markets, J.P. Morgan and Deutsche Bank are the joint bookrunners on the deal.
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