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Private equity-backed Ply Gem valued at $1.3bn with imminent IPO

13 May 2013

stock brokerage market share listedPrivate equity-backed building products maker Ply Gem will price its upcoming IPO on the New York Stock Exchange at $20 per share, which would value it at as much as $1.3bn.

The North Carolina-based company will offer 15.8 million shares at a price of $18 to $20 apiece it said in a document filed with the US Securities and Exchange Commission.

Buyout firm CI Capital Partners expects to reduce its stake from 93.7 per cent to 70.9 per cent via the IPO or to 68.4 per cent if the underwriters exercise their over-allotment option in full.

Ply Gem posted a loss of $28.1m on revenues of $257.1m in the first quarter of 2013.

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