US-based private home builder Smith Douglas Homes has launched its initial public offering (IPO) of 7,692,308 shares of class A common stock.  

These shares are expected to be priced between $18.00 and $21.00, the company said in a regulatory filing.  

Smith Douglas said that it is currently planning to offer a 30-day option to underwriters for acquiring up to an additional 1,153,846 shares at the IPO price, less the overall underwriting discount. 

The company plans to list its common stock on the New York Stock Exchange (NYSE) under the ticker symbol 'SDHC'. 

This offering is being led by JP Morgan, Bank of America Securities, RBC Capital Markets, Wells Fargo Securities, Wolfe | Nomura Alliance, as well as Zelman Partners.  

These companies will be serving as the joint book-running managers for the proposed offering. 

Meanwhile, Smith Douglas has appointed Fifth Third Securities, Wedbush Securities, Regions Securities, and Whelan Advisory Capital Markets as the co-managers for the proposed IPO.  

The IPO will be conducted through a prospectus.  

As per a Bloomberg report, through this offering, which could be the first US listing of the year, Smith Douglas plans to raise approximately $161.5m. 

Smith Douglas posted home-closing revenue of nearly $595m for the nine months ended 30 September 2023, as per the company’s filing. 

Founded in 2008, the Georgia-headquartered company specialises in constructing customised homes at affordable prices. 

The company primarily targets entry-level and empty-nest homebuyers seeking to buy a new house below the US Federal Housing Administration’s loan limit in areas such as Houston, Atlanta, Birmingham (US), and Nashville.