Newmark Group (NMRK) Plans to Raise $615 Million in December 15th IPO

Newmark Group (NMRK) plans to raise $615 million in an IPO on Friday, December 15th, IPO Scoop reports. The company will issue 30,000,000 shares at $19.00-$22.00 per share.

In the last 12 months, Newmark Group generated $1.5 billion in revenue and $243.1 million in net income. The company has a market cap of $3.3 billion.

Goldman Sachs, BofA Merrill Lynch, Citigroup, Cantor Fitzgerald, PNC Capital Markets, Mizuho Securities, Capital One Securities and Keefe, Bruyette & Woods (A Stifel Company) acted as the underwriters for the IPO and Sandler O’Neill + Partners, Raymond James, Regions Securities, CastleOak Securities and Wedbush Securities were co-managers.

Newmark Group provided the following description of their company for its IPO: “Newmark is a rapidly growing, high margin, full-service commercial real estate services business that offers a full suite of services and products for both owners and occupiers across the entire commercial real estate industry. Since 2011, the year in which we were acquired by BGC Partners, a leading global brokerage company servicing the financial and real estate markets and listed on the NASDAQ Global Select Market, we have been the fastest growing U.S.-listed commercial real estate services firm, with a compound annual growth rate (which we refer to as “CAGR”) of revenue of 41%. “.

Newmark Group was founded in 1929 and has 4500 employees. The company is located at 125 Park Avenue, New York, New York 10017, US and can be reached via phone at (212) 372-2000 or on the web at http://www.ngkf.com.

Receive News & Ratings for Newmark Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmark Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply