KUALA LUMPUR, Aug 7 (Bernama) -- Cushman & Wakefield plc (Cushman & Wakefield) announced the closing of its initial public offering (IPO) of 45 million of its ordinary shares at US$17 (RM69.53) per share. (1US$ = RM4.09).
In connection with the IPO, the underwriters exercised in full their option to purchase an additional 6.75 million ordinary shares from Cushman & Wakefield.
As a result, the total IPO size was 51.75 million shares. The shares are listed on the New York Stock Exchange and trade under the symbol “CWK”, a statement said.
Cushman & Wakefield expects to use the net proceeds from the ordinary shares to reduce outstanding indebtedness, in particular to repay its second lien loan, to pay the outstanding amount of the deferred payment obligation related to its acquisition of Cassidy Turley and any remaining net proceeds for general corporate purposes.
Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC and UBS Investment Bank served as joint book-running managers and representatives of the underwriters for the offering.
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. It is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries.
--BERNAMA
No comments:
Post a Comment