Bluegreen Vacations (BXG) expects to raise $110 million in an initial public offering on Friday, November 17th, IPO Scoop reports. The company plans to issue 6,500,000 shares at $16.00-$18.00 per share.
In the last twelve months, Bluegreen Vacations generated $668.1 million in revenue and $88.8 million in net income. The company has a market cap of $1.3 billion.
Stifel and Credit Suisse served as the underwriters for the IPO and BofA Merrill Lynch and SunTrust Robinson Humphrey were co-managers.
Bluegreen Vacations provided the following description of their company for its IPO: “We are a leading vacation ownership company that markets and sells VOIs and manages resorts in top leisure and urban destinations. Our resort network includes 42 Club Resorts (resorts in which owners in our Vacation Club have the right to use most of the units in connection with their VOI ownership) and 24 Club Associate Resorts (resorts in which owners in our Vacation Club have the right to use a limited number of units in connection with their VOI ownership). Our Club Resorts and Club Associate Resorts are primarily located in popular, high-volume, “drive-to” vacation locations, including Orlando, Las Vegas, Myrtle Beach and Charleston, among others. Our Vacation Club has grown from approximately 170,000 owners as of December 31, 2012 to approximately 210,000 owners as of July 31, 2017. “.
Bluegreen Vacations was founded in 1985 and has 5729 employees. The company is located at 4960 Conference Way North, Suite 100, Boca Raton, FL 33431, US and can be reached via phone at (561) 912-8000 or on the web at http://www.bluegreenvacations.com.
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