Century Communities Prices 4.48 Mln Shares IPO At $23-$26/Shr Range

(RTTNews) - Century Communities Inc. (CCS) announced the start of its initial public offering or IPO of 4.48 million common shares, of which 4.0 million shares are offered by the company and the remaining by certain stockholders of the company. The IPO price is likely to be between $23.00 and $26.00 per share.

The underwriters were granted an option to buy up to an additional 0.672 million shares. The firm has applied to list its common stock on the New York Stock Exchange under the symbol "CCS."

While the company would not receive any proceeds from the sale of shares by the selling stockholders, it would use the net proceeds from its sale for the acquisition and development of land, home construction and other related purposes.

FBR, J.P. Morgan and Deutsche Bank Securities are acting as book-runners of the offering. Zelman Partners LLC and Builder Advisor Group are acting as co-managers.