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Invitation Homes raises $1.54 billion in IPO

Colorado Springs, Colorado
Spencer Platt | Getty Images
Colorado Springs, Colorado

Invitation Homes, the largest U.S. home rental company, raised $1.54 billion in an initial public offering on Tuesday, according to a source familiar with the matter, setting the stage for an anticipated pick-up in IPO activity in 2017.

Invitation Homes priced 77 million shares at $20, within its previously indicated range of $18 and $21, the person said.

The source requested anonymity because the information is not yet public. Blackstone, the owner of Invitation Homes, declined to comment. Invitation Homes itself did not immediately respond to requests for comment.