When Did ARI Have Its Initial Public Offering?
Learn about a company's initial public offering, its market debut specifics, and its ongoing journey as a publicly traded entity.
An Initial Public Offering (IPO) represents a pivotal moment for a privately held company, marking its transition into a publicly traded entity. This process involves offering shares of the company’s stock to the public for the very first time. By undertaking an IPO, a company gains the ability to raise substantial capital from public investors, which can then be utilized for various purposes such as funding growth initiatives, reducing debt, or expanding operations. Becoming publicly traded also brings increased visibility and prestige, but it also introduces new regulatory requirements and scrutiny.
Identifying ARI’s Public Debut
The company referenced as “ARI” refers to American Realty Investors, Inc., a real estate company. While the query uses “ARI,” American Realty Investors, Inc. actually trades on the New York Stock Exchange (NYSE) under the ticker symbol ARL. Another distinct company, Apollo Commercial Real Estate Finance, Inc., uses the ticker symbol ARI and had its own initial public offering on September 24, 2009. American Realty Investors, Inc. (ARL) completed its initial public offering in 2000, with shares listed on the NYSE on August 3, 2000.
Key Aspects of the Initial Public Offering
American Realty Investors, Inc. was incorporated in November 1999, preceding its public listing in 2000. The company’s decision to go public aimed to support its objectives of acquiring, financing, operating, and selling real estate assets. Specific details regarding the initial offering price per share, the exact number of shares offered to the public, and the total capital raised during American Realty Investors, Inc.’s 2000 IPO are not widely publicized in readily available financial databases. Precise historical figures for older public offerings, including lead underwriters, often require in-depth research into archival financial filings or prospectus documents.
ARI’s Path as a Public Company
Following its initial public offering in 2000, American Realty Investors, Inc. has continued its operations as a publicly traded entity on the New York Stock Exchange under the symbol ARL. The company maintains a business focus on acquiring, developing, and owning income-producing residential and commercial real estate properties, primarily throughout the Southern United States. Its portfolio includes multifamily properties, office buildings, shopping centers, and land held for appreciation or development. American Realty Investors, Inc. also engages in investments in mortgage notes receivable.
The company operates as an externally managed real estate company, with its day-to-day management delegated to Pillar Income Asset Management, Inc. A significant characteristic of American Realty Investors, Inc. is that a substantial portion, over 80%, of its stock is owned by related parties. Furthermore, a primary asset and source of its operating results is its investment in Transcontinental Realty Investors, Inc. (TCI), a subsidiary whose financial results are consolidated with ARL’s.