GMS Inc. (GMS) IPO Opens up 7%
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Today's IPO for GMS Inc. (NYSE: GMS) opened for trading at $22.50 after pricing 7,000,000 shares of its common stock at a public offering price of $21 per share, the low end of the expected $21-$23 range.
Barclays Capital Inc. and Credit Suisse Securities (USA) LLC are acting as joint book-running managers and as representatives of the underwriters in the offering. RBC Capital Markets, LLC, Robert W. Baird & Co. Incorporated and Wells Fargo Securities, LLC are acting as joint book-running managers of the offering, and SunTrust Robinson Humphrey, Inc., Raymond James & Associates, Inc. and Stephens Inc. are acting as co-managers.
GMS is the leading North American distributor of wallboard and suspended ceilings systems. GMS’s product offering of wallboard, suspended ceilings systems, or ceilings, and complementary interior construction products is designed to provide a comprehensive solution for our core customer, the interior contractor who installs these products in commercial and residential buildings. Founded in 1971, GMS operates a national network of distribution centers across the United States. With a full line of product offerings, GMS provides a comprehensive solution, or one-stop-shop, for all of our customers for wallboard, ceilings and complementary products.
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