logo
Share SHARE
FONT-SIZE Plus   Neg

Silver Bay Realty Prices IPO At $18.50/Shr

Silver Bay Realty Trust Corp. (SBY) Friday priced its initial public offering of 13.25 million shares of common stock at a price of $18.50 per share. The shares are expected to begin trading on the NYSE on Friday.

The underwriters have been granted a 30-day option to purchase up to an additional approximately 1.98 million shares of common stock to cover over-allotments, if any.

Silver Bay is also planning to acquire an initial portfolio of more than 3 thousand single-family residential properties, in exchange for equity interests in Silver Bay or its operating subsidiary, or cash.

The acquisition will be carried out through entities associated with Two Harbors Investment Corp. (TWO), and Provident Real Estate Advisors LLC.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Verizon is mulling the acquisition of a big cable company following its rival AT&T's deals with DirecTV and Time Warner, the New York Post reported, citing two well-placed sources. The move is expected to help the firm grow demand for its wireless data products. Saudi Arabian Oil Co., most popularly known as Saudi Aramco, is yet to finalize a date for its long planned initial public offer, but reports said, citing Saudi Arabian officials, that the IPO most likely would be conducted in the second half of 2018. Saudi Aramco Chief Executive Officer Amin Nasser told Bloomberg that the country has promised to reduce the overall tax rate... Dutch semiconductor equipment maker ASML Holding NV reported Wednesday significantly higher profit in its fourth quarter, with higher system sales, selling price and improved margin. Looking ahead, for the first quarter, the company sees sequentially lower net sales and margin.
comments powered by Disqus
Follow RTT