CARY, NC - Ply Gem, a manufacturer of windows and vinyl siding, raised approximately $331.8 million from its debut at the New York Stock Exchange, selling nearly 15.8 million shares. Initially set at $21 a share, the price hit $23.30 during its first day of the public offering.
After deducting underwriting discounts and commissions and expenses, the company is expected to net proceeds of about $306.5 million.
Last year, Ply Gem reported a loss of $39.1 million on revenue of $1.12 billion. Ply Gem is looking for a successful IPO to help it pay back outstanding debts, transaction fees and other expenses.