An initial public offer for William Lyon Homes is expected to fetch a price per share between US$22 and US$24 totalling US$209 million.
Class A shares with a volume of 6.5 million would be sold by William Lyon while about 2.2 million shares would be offered by the Luxor Capital Group. Luxor would retain a 20% shareholding in the company post-IPO. The lead underwriters of the offer are Credit Suisse, Citigroup and JP Morgan.
When the top price per share is attained, the capitalization would reach US$739 million. Last month, William Lyon filed documentation with regulators reporting at least US$200 million in expected proceeds during the IPO.
William Lyon Homes is based out of Newport Beach, CA and is the most recent homebuilder that is seeking to go public during a housing supply crunch and a steadily improving economy. It is intending to list its Class A stock at the NYSE under the symbol "WLH".
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