Realogy Plans for $1 Billion IPO

October 1, 2012

Realogy Holdings Corp., a real estate company which includes Century 21 and Coldwell Banker under its umbrella, plans to raise more than $1 billion for an initial public offering, which would make it the third-largest IPO in the country this year, Reuters reports. 

Realogy announced that it plans to sell 40 million shares of its IPO at a price between $23 and $27 per share. That would put Realogy behind Facebook and Santander Mexico Financial Group in line for the largest IPOs this year. 

Homebuilder shares and real estate stocks have soared this year as the housing market marks a turnaround. Trulia Inc. debuted an IPO last week, which jumped 40 percent the day of its IPO debut. 

Investors are looking to cash in on the housing recovery, Megan McGrath, an analyst with MKM Partners, told Reuters. 

Realogy will trade later this month on the New York Stock Exchange under the “RLGY” symbol.

Source: “Apollo-backed Realogy Sets Terms for $1 Billion IPO,” Reuters (Sept. 28, 2012)