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Real Estate Briefing - Categorized | IPOs/Stock Market, Investment more

Housing IPO draws strong demand

Posted on 12 October 2012

Investors are making a bold gamble that the housing rebound will be steep and swift with the initial public offering of Realogy. Realogy, which owns Century 21, Coldwell Banker, Corcoran and Sotheby’s International Realty, raised more than $1 billion through its initial public offering that priced Wednesday night at $27 a share — the high end of its estimated range. It’s the third-largest IPO of the year behind Facebook (FB) and Banco Santander’s Mexican subsidiary (BSMX).
Shares of Realogy (RLGY) began trading on the New York Stock Exchange Thursday morning, and quickly surged 29% above its IPO price………………………………………..Full Article: Source

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