Realogy IPO values company at up to $3.51B

New York /
Sep.September 28, 2012 11:30 AM

Realogy Holdings will sell 40 million shares in its initial public offering at between $23 and $27 per share, Reuters reported, in an effort to raise $1.08 billion. Those numbers value the firm — the largest residential brokerage franchisor in the world and the owner of Corcoran Group, Citi Habitats and Sotheby’s International — at up to $3.51 billion, according to Reuters.

Realogy expects to list its shares on the New York Stock Exchange under the symbol “RLGY,” Reuters said. Goldman Sachs and JP Morgan are acting as representatives to the underwriters on the offering, a date for which has not been set.

As The Real Deal has reported, the company filed a prospectus for the IPO with the U.S. Securities and Exchange Commission in June. The deal would help the company reduce debt and enable it to cut interest payments by an anticipated $350 million per year.

Realogy is owned by Apollo Global Management and Paulson & Co. [Reuters] Guelda Voien


Related Articles

arrow_forward_ios
Sotheby’s, Realogy make winning bid for Concierge Auctions
Sotheby’s, Realogy make winning bid for Concierge Auctions
Sotheby’s, Realogy make winning bid for Concierge Auctions
Vector CEO Howard Lorber and Elliman CEO Scott Durkin (Getty)
Douglas Elliman to go public in spinoff from Vector Group
Douglas Elliman to go public in spinoff from Vector Group
286 Lenox Avenue in Harlem (Google Maps, iStock)
Interested in investing in a single building? This Harlem property could be your chance
Interested in investing in a single building? This Harlem property could be your chance
RealSure CEO Katie Finnegan
Meet the exec leading Realogy’s big iBuying bet
Meet the exec leading Realogy’s big iBuying bet
Realogy CEO Ryan Schneider (Realogy, Illustration by Kevin Rebong for The Real Deal)
Realogy plans to “step up” iBuying venture to capitalize on hot housing market
Realogy plans to “step up” iBuying venture to capitalize on hot housing market
RealSure CEO Katie Finnegan (LinkedIn)
Realogy, Home Partners of America iBuying venture hires first CEO
Realogy, Home Partners of America iBuying venture hires first CEO
Cash to burn: How brokerages are spending capital in a record year
Cash to burn: How brokerages are spending capital in a record year
Cash to burn: How brokerages are spending capital in a record year
Moderne Ventures founder Constance Freedman (Moderne, iStock)
VC firm Moderne Ventures raises $200M for fund tapping proptech
VC firm Moderne Ventures raises $200M for fund tapping proptech
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...