Smith Douglas Residences Corp. priced its going public at $21 a share late Wednesday, at the peak of its approximated variety.
The homebuilder prepares to use 7.69 million shares, raising about $161.5 million. Shares are anticipated to begin trading Thursday on the New York Stock Exchange under the ticker sign “SDHC.”
JPMorgan, BofA Securities, RBC Capital Markets and Wells Fargo Securities are the IPO’s joint book-running supervisors.
Atlanta-based Smith Douglas is among the nation’s fastest-growing personal homebuilders, focusing mostly on entry-level and empty-nest homes in Southern city locations.
Smith Douglas Residences reported $93.5 million in earnings and $547.3 million in earnings in the 9 months ending Sept. 30, compared to earnings of $99.14 million and earnings of $531.9 million in the year-ago duration.
MarketWatch’s Steve Gelsi added to this report.