Continental Building Products, which manufactures and sells drywall and complementary finishing products in the US and Canada, announced terms for its IPO on Thursday. The Reston, VA-based company plans to raise $225 million by offering 13.2 million shares (11% insider) at a price range of $16 to $18. At the midpoint of the proposed range, Continental Building Products would command a fully diluted market value of $750 million.
Continental Building Products, which was founded in 1996 and booked $376 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol CBPX. Continental Building Products initially filed confidentially on November 25, 2013. Citi, Credit Suisse, Barclays, Deutsche Bank and RBC Capital Markets are the joint bookrunners on the deal.
