Real estate brokerage franchisor RE/MAX Holdings sets terms for $200 million IPO

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RE/MAX Holdings, a leading franchisor of residential real estate brokerages in the US and Canada, announced terms for its IPO on Thursday. The Denver, CO-based company plans to raise $200 million by offering 10.0 million shares at a price range of $19 to $21. At the midpoint of the proposed range, RE/MAX Holdings would command a fully diluted market value of $611 million.

RE/MAX Holdings, which was founded in 1973 and booked $152 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol RMAX. RE/MAX Holdings initially filed confidentially on July 12, 2013. Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal.

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This article appears in: News Headlines , IPOs


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