Bluegreen Vacations Corporation and its parent company, BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), jointly announced today that Bluegreen Vacations has priced its initial public offering of 6,498,648 shares of its common stock at a price to the public of $14.00 per share. Bluegreen Vacations is offering 3,736,723 shares, and a wholly-owned subsidiary of BBX Capital is offering 2,761,925 shares as a selling shareholder. The shares are expected to begin trading on the New York Stock Exchange on November 17, 2017, under the ticker symbol “BXG.” The offering is expected to close on November 21, 2017, subject to the satisfaction of customary closing conditions.
About Bluegreen Vacations Corporation:
Bluegreen Vacations Corporation (formerly Bluegreen Corporation), founded in 1966 and headquartered in Boca Raton, Florida, is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 211,000 owners, 67 Club and Club Associate Resorts and access to more than 11,000 other hotels and resorts through partnerships and exchange networks. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties.
About BBX Capital Corporation:
BBX Capital Corporation (formerly BFC Financial Corporation) (NYSE: BBX) (OTCQX: BBXTB) is a diversified holding company whose activities include its ownership of Bluegreen Vacations Corporation and, through its Real Estate and Middle Market Divisions, the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects and middle market operating businesses.