City Ventures Withdraws IPO

City Ventures Withdraws IPO

Prolific Newport Beach-based private developer/builder, City Ventures, withdraws $150M IPO plans. While homebuilder stocks have rallied over the past month on news of potential changes in mortgage regulations, the overall sentiment in the California homebuilding sector remains generally soft heading into year-end perhaps contributing to the change in City Ventures’ IPO plans.

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Previous Mortgage Credit Likely to Expand
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