Boca-based Bluegreen Vacations timeshare company lists on NYSE

Boca Raton-based Bluegreen Vacations listed its stock on the New York Stock Exchange on Friday, opening at $14 a share. The stock, listed under the symbol “BXG,” closed down $1 at $13 a share.

Bluegreen is a subsidiary of BBX Capital, a diversified holding company for real estate, timeshare and entrepreneurial businesses based in Fort Lauderdale.

Through the public stock offering, Bluegreen is looking to raise $100 million with proceeds going to parent company BBX Capital. Funds are earmarked for working capital, potential acquisitions, development of vacation properties and repayment of debt, according to a filing with the Securities and Exchange Commission.

Bluegreen, founded in 1996, is a sales, marketing and real estate business that specializes in vacation resort timeshare properties around the country. The company has been rebounding since the recession, with about 211,000 owners, 67 owned or managed resorts, and access to more than 4,500 resorts worldwide.

Parent company BBX Capital is led by Alan Levan, who built and later sold BankAtlantic to North Carolina-based BB&T.

Besides Bluegreen, BBX’s acquisitions in recent years have included Hoffman’s Chocolates retail stores, which are being expanded in Broward and Palm Beach counties, a wholesale chocolate operation, the MOD Pizza franchise for Florida, and It’Sugar, a Delray Beach-based candy company.