Homebuilder Taylor Morrison plans to raise as much as $524 million in an initial public offering, seeking to take advantage of a revival in the housing market.
The nation’s sixth largest homebuilder will offer 23.8 million shares at somewhere between $20 and $22 per share, according to a U.S. Securities and Exchange Commission filing on Monday.
The company will list on the New York Stock Exchange under the ticker ‘TMHC’.
In February, Taylor Morrison doubled the size of its IPO, planning to raise up to $500 million to help fund the company’s growth. In December, the company originally filed an IPO for as much as $250 million.
The homebuilder continues to benefit from an upswing in new construction demand, reporting $430.8 million in net income last year. The company also closed on 4,014 homes with an average sale price of $364,000 in 2012.
The North American business, founded by U.K. construction firm Taylor Wimpey, was sold to a private investment consortium for $995 million in 2011. Wimpey’s Canadian homebuilding company, Monarch, was included in the deal.