RE/MAX Goes Public
Denver-based RE/MAX Holdings, Inc., one of the world’s leading franchisors of real estate brokerage services, just announced that it is going public.
The company has commenced an initial public offering of 10,000,000 shares of its Class A common shares. The initial public offering price is currently expected to be between $19.00 and $21.00 per Class A common share.
RE/MAX has applied to list its Class A common shares on the New York Stock Exchange under the symbol “RMAX.”
The company says it intends to use the net proceeds from the offering to reacquire regional RE/MAX franchise rights in select markets, redeem preferred membership interests and to repurchase ownership stakes from existing shareholders.
Morgan Stanley, BofA Merrill Lynch and J.P. Morgan will act as joint book-running managers for the offering.
RE/MAX boasts over 90,000 agents operating in more than 90 countries.
American Apartment Owners Association offers discounts on products and services for all your property management needs. Find out more at www.joinaaoa.org.