William Lyon Homes (WLH) Files $200M IPO

April 9, 2013 5:23 PM EDT
William Lyon Homes (NYSE: WLH) filed A $200 million initial public offering with the SEC after the close of trading Tuesday. The regional homebuilder expects to list on the NYSE under the symbol "WLH."

Credit Suisse, Citigroup and JPMorgan are leading the offering.

William Lyon Homes is one of the largest Western U.S. regional homebuilders. William Lyon Homes is headquartered in Newport Beach, California, and primarily engaged in the design, construction, marketing and sale of single-family detached and attached homes in California, Arizona, Nevada and Colorado. Core markets include Orange County, Los Angeles, San Diego, the San Francisco Bay Area, Phoenix, Las Vegas and Denver. William Lyon Homes has distinguished legacy of more than 55 years of homebuilding operations, over which time they have sold in excess of 75,000 homes. William Lyon Homes's markets are characterized by attractive long-term housing fundamentals and, based upon the Burns Home Value Index, eight of their markets have experienced double-digit year-over-year home price appreciation. William Lyon Homes hold leading market share positions in most of these markets and have a significant land supply with more than 11,800 lots owned or controlled as of December 31, 2012, representing a 13-year supply of lots based upon 2012 home closings.

In 2012 the company delivered 950 homes, with an average selling price of approximately $275,000, and recognized home sales revenues and total revenues of $261.3 million and $398.3 million, respectively.

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