Reuters: Global Markets: Taylor Morrison Home rises 10 percent in NYSE debut

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Taylor Morrison Home rises 10 percent in NYSE debut Apr 10th 2013, 14:43 Wed Apr 10, 2013 10:43am EDT (Reuters) - Private equity-backed Taylor Morrison Home Corp's (TMHC.N) shares rose as much as 8 percent, a day after the homebuilder priced its expanded initial public offering at the top end of its price range. The company priced 28.6 million shares at $22 each, raising about $630 million and valuing itself at $2.68 billion. It had initially filed in December to raise up to $250 million in the IPO, but doubled the proposed size earlier this month. It had planned to sell 23.8 million shares at between $20 and $22 per share. Following an uptick in the U.S. housing market, which is recovering from one of its worst downturns, a number of private companies are looking to tap public markets amid strong investor appetite for real estate stocks. The 75-year-old company, backed by Oaktree Capital Management, TPG Global and JH Investments Inc, operates under the Taylor Morrison and Darling Homes brands in the United States and the Monarch brand in Canada. Credit Suisse and Citigroup acted as lead underwriters to the offering. (Reporting by Anil D'Silva and Aman Shah in Bangalore; Editing by Sreejiraj Eluvangal)

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