Jan 3 Reuters Smith Douglas Homes is seeking a valuation of 1.08 billion in its U.S. initial public offering, the homebuilder said in a regulatory filing on Wednesday.

Smith Douglas, which builds and sells singlefamily homes, is offering nearly 7.7 million shares at the price expected between 18 and 21 apiece, its filing showed, potentially raising 161.5 million at the top end of the range.

The IPO market saw signs of revival last year with marquee listings of SoftBank39;s chip designer Arm and grocery delivery service Instacart.

However, the sector has tempered down in recent market debuts with several new entrants failing to make a mark after their listings.

The company plans to list its shares on New York Stock Exchange under the symbol SDHC, Smith Douglas Homes said.

JPMorgan and Bank of America are the lead underwriters for the offering.

Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shweta Agarwal

Source Reuters