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WEEKLEY HOMES FILES FOR INITIAL PUBLIC OFFERING OF 3,875,000 SHARES OF COMMON STOCK

 WEEKLEY HOMES FILES FOR INITIAL PUBLIC OFFERING
 OF 3,875,000 SHARES OF COMMON STOCK
 HOUSTON, April 20 /PRNewswire/ -- Weekley Homes, Inc., today announced it has filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of an aggregate of 3,875,000 shares of common stock by the company and its existing stockholders.
 The company and the existing stockholders have also granted the underwriters an over-allotment option to purchase up to an additional 465,000 shares. The shares will be sold through underwriters led by Lehman Brothers and Merrill Lynch & Co., and the offering is expected to be made at a price of $17.00 to $19.00 per share. After the offering, the existing stockholders will own approximately 66 percent of the company's outstanding common stock, or 63 percent if the underwriters' over-allotment option is fully exercised.
 Weekley Homes is engaged in the design, construction, marketing and sale of single-family detached homes in Houston, Dallas-Ft. Worth, Austin and San Antonio, Texas. The company markets its homes to upper income, first-time buyers and move-up buyers.
 Preliminary prospectuses will be available from Lehman Brothers at World Financial Center, American Express Tower, New York, NY 10285, telephone 212-298-2000, or Merrill Lynch & Co. at World Financial Center, North Tower, New York, NY 10281, telephone 212-449-1000.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 4/20/92
 /CONTACT: Richard W. Weekley, vice chairman of Weekley Homes, 713-963-0500/ CO: Weekley Homes, Inc. ST: Texas IN: CST SU: OFR


SH-GK -- NY069 -- 0158 04/20/92 14:45 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
Words:350
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