RE/MAX Holdings announced the pricing of its initial public offering of 10 million shares of Class A common stock at a public offering price of $22.00 per share, the company announced Wednesday.
Shares of the company’s Class A common stock are expected to begin trading Wednesday under the symbol: RMAX.
The real estate brokerage expects net proceeds from the transaction to reach $194.2. The company plans to use the money raised to repurchase regional RE/MAX franchise rights in select markets, redeem preferred membership interests and acquire ownership stakes from existing shareholders.
