Home Builder Doubles IPO Size
With record-low mortgage rates and rising selling prices, investor demand has been strong, and another homebuilder is looking to cash in with an initial public offering (IPO).
Taylor Morrison Home Corp., a Scottsdale, Ariz.-based builder, has already doubled the the amount it seeks to raise its IPO to $500 million. The builder filed with U.S. regulators for its IPO in December. At the time, it had hoped to raise up to $250 million.
Last month, Tri Pointe Homes LLC was the first U.S. home builder to go public in more than 10 years. Boise Cascade Co., a plywood and lumber maker, has soared in its debut over the last three weeks.