Finance History|11 Wall Street — A Fort Worth Builder Prints DHI
· 1992-6
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Finance History|11 Wall Street — A Fort Worth Builder Prints DHI
kevin
People treat D.R. Horton as an Arlington homebuilder that always printed DHI as the largest U.S. closer.
The 1992 issuer was a Delaware corporation formed in 1991 to hold residential construction companies owned or controlled by Donald R. Horton.
The company's later Form 10-K filings say the homebuilding business began in Fort Worth in 1978 and that the common stock has been publicly traded since 1992. Market-data services date the first print to 5 June 1992 on the New York Stock Exchange under DHI.
A later Horton prospectus restates the same sequence: Delaware incorporation in 1991, then the initial public offering of common stock in 1992. The 10-K does not reprint the offer price in current filings.
The mechanism is a builder IPO. Holders bought a regional Texas homebuilder that intended to use public equity to open new divisions and acquire other builders, not a finished national franchise.
By the mid-1990s the company was buying other homebuilders city by city. It later measured itself as the largest U.S. homebuilder by homes closed.
The pin is the Broad Street facade of the Exchange, where DHI still prints. Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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