One of North America’s largest dealers in drywall and ceilings Foundation Building Materials began public trading of its shares early this year. The private firm has seen its revenues rise drastically in less than four years to reach $1.4 billion in sales and 210 branches in the U.S. and Canada, in a story reported by ProSales’ Editor-in-Chief Craig Webb.
The 12.8 million shares in FBM common stock (with an option to sell up to 1.92 million more) were priced at $14 each for today's trading, below the $17 to $19 range the company had forecast in a February’s SEC filing. It rose as high as $15.85 before closing at $15.50.