William Lyon Homes, a homebuilder in the southwestern US, announced terms for its IPO on Monday. The Newport Beach, CA-based company plans to raise $200 million by offering 8.7 million shares (25% insider) at a price range of $22 to $24. At the midpoint of the proposed range, William Lyon Homes would command a fully diluted market value of $728 million.
William Lyon Homes, which was founded in 1956 and booked $435 million in sales for the 12 months ended 3/31/2012, plans to list on the NYSE under the symbol WLH. Credit Suisse, Citi and J.P. Morgan are the joint bookrunners on the deal.
