RE/MAX rides housing upswing to public offeringAugust 20, 2013 @ 8:48 am
RE/MAX Holdings, one of the world's largest real estate brokerages, announced it plans to raise $100 million for an initial public offering.
The announcement comes on the heels of RE/MAX rival Realogy Holdings - which operates Century 21 and Coldwell Banker - filing for a $1 billion IPO. Both brokerages are aiming to take advantage of a recovering housing market.
RE/MAX has been a private company since its inception 40 years ago. The company has been earned $33.3 million in 2012. RE/MAX brought in $15 million in the first six months of this year - an 8.7 percent increase from the same time period last year.
RE/MAX will trade on the New York Stock Exchange under the ticker symbol RMAX.
Jason Rantz says it's the Seattle DOT that's to blame for our awful commutes
Just in time for Halloween, western Washington spider season in full effect
10 reasons we know you're a Seattle driver
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.