Saturday, April 13, 2013

Taylor Morrison IPO raises $526 million

Sheryl Palmer, President and CEO of Taylor Morrison, waits for her company's IPO to begin trading on the floor of the New York Stock Exchange, Wednesday, April 10, 2013.

Shares of Taylor Morrison Homes Corp., Arizona’s newest public company, debuted on the New York Stock Exchange on Wednesday, posting a 4.7 percent price increase in its first day of trading.

Scottsdale-based Taylor Morrison raised $526 million through its initial public offering of 28.6 million shares. The home builder’s stock price opened at $22 a share, hit and intraday high of $23.78 and closed at $23.04.

Read more:  Taylor Morrison IPO raises $526 million

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