US regulators received IPO documentation filed by Diamond Resorts International for the listing of up to US$200 million worth of common shares to the public. The documents filed did not provide the volume of shares to be sold in the IPO as well as the scheduled date of said IPO.
The company based out of Nevada manages eighty Diamond resorts located all over the the Caribbean, Europe, Hawaii, Mexico and the continental United States. It has a network of 295 vacation destinations that provide tour programs that allows members to own vacation interests through a points system.
The net proceeds from the IPO would be used by the company for working capital needs, outstanding debt repayments as well as expansion projects into new markets.
The company would be listed under the symbol 'DRII' and would be listed on the New York Stock Exchange. It had identified Credit Suisse Securities as the lead underwriter in the IPO. Other underwriters included are BofA Merrill Lynch, JP Morgan and Guggenheim Securities.
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