Cushman & Wakefield stock indicated to open between $17.50-$19.50, above $17 IPO price

cushman wakefield stock indicated to open between above ipo price
Cushman & Wakefield stock indicated to open between $17.50-$19.50, above $17 IPO price

Cushman & Wakefield sets terms of IPO, to raise up to $810 million

Cushman & Wakefield set terms for its initial public offering, in which the commercial real estate services company seeks to raise up to $810 million, and which would value the company at up to $3.57 billion. The company, which is offering 45 million shares, expects the IPO to price between $16 and $18 a share. If all the options granted to underwriters to buy more shares are exercised, the company could raise up to $931.5 million. The company plan for its stock to list on the NYSE under the ticker symbol “CWK.” The lead underwriters are Morgan Stanley, J.P. Morgan, Goldman Sachs and UBS. The company is looking to go public at a time that the Renaissance IPO ETF has gained 6.3% over the past three months while the S&P 500 has tacked on 4.9%.

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