Credit: Shutterstock photoCity Ventures, a California homebuilder focused on coastal urban areas and high demand suburban locations, withdrew its plans for an initial public offering on Friday.
The company targets communities in Southern and Northern California with favorable demographics and limited land available for new housing.
The Newport Beach, CA-based company was founded in 2013 and booked $120 million in sales for the 12 months ended June 30, 2013. It had planned to list on the NYSE under the symbol CTYV. Deutsche Bank and Goldman Sachs were set to be the joint bookrunners on the deal.
The article California homebuilder City Ventures withdraws $150 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
