Boise Cascade IPO could raise more than $190M
Boise Cascade Co. shares are set to begin trading Feb. 6.
One of the region’s largest wood products firms hopes to raise more than $188 million in a public offering.
Boise-based Boise Cascade LLC will issue 11.76 million shares priced at $16 to $18, it said Wednesday[5]. Boise filed plans for an initial public offering with the U.S. Securities and Exchange Commission[6] on Nov. 15, 2012.
The plywood manufacturer will convert into a corporation and be renamed Boise Cascade Co.
It will trade on the New York Stock Exchange[7] under the symbol BCC.
The Wall Street Journal[8] reports its shares are slated to start trading Feb. 6. At the low end, the IPO will raise nearly $190 million.
BofA Merrill Lynch, Goldman Sachs Group, Deutsch Bank Securities, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the offering. D.A. Davidson & Co.[9], Moelis & Co. and Piper Jaffray & Co. are co-managers for the offering.
In Oregon[10], Boise operates wood products facilities in Elgin, La Grande, Medford, White City and Willamina. It has a building materials distribution facility in Vancouver, Wash.
Boise is majority owned by Madison Dearborn Partners IV, a private equity firm, and management. OfficeMax holds a 20 percent stake in the company.
Wendy Culverwell covers real estate, retail and hospitality.
References
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- ^ said Wednesday (www.bc.com)
- ^ U.S. Securities and Exchange Commission (www.bizjournals.com)
- ^ New York Stock Exchange (www.bizjournals.com)
- ^ The Wall Street Journal (www.bizjournals.com)
- ^ D.A. Davidson & Co. (www.bizjournals.com)
- ^ In Oregon (www.bc.com)