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