May 27, 2018

Realogy Posts Big IPO Debut

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Realogy Posts Big IPO Debut

Following the course of other recent real estate initial public offerings (IPOs), Realogy Holdings Corp. saw its shares soar on opening day of trading on the New York Stock Exchange. 

Realogy, which includes brands like Century 21, Coldwell Banker, ERA, and Sotheby’s International Realty under its umbrella, saw shares jump more than 25 percent on its first day of trading as the stock rose from its IPO price of $27 to $34.20 on Thursday. 

Realogy had raised $1.08 billion from its IPO, marking the third-largest of the year. It’s trading under the “RLGY” ticker symbol on the New York Stock Exchange. 

Realogy follows several other recent successful real estate IPOs. For example, HomeAway, which operates Web sites of vacation rentals and sales, raised $231 million in July 2011 for its IPO. In addition, real estate listing site Zillow first raised $75.7 million for its IPO, and its chief rival Trulia raised $89.3 million for an IPO that closed Sept. 25. 

Source: “Realogy Soars in First Day of Trading on NYSE,” Associated Press (Oct. 11, 2012) and “Realogy IPO Extends Real Estate Industry’s Winning Streak,” Inman News (Oct. 11, 2012)