Cushman & Wakefield fetched $765m in an initial public offering late on Wednesday, making the commercial real estate company worth about $3bn.
Founded in New York more than a century ago, it merged with TPG-owned DTZ in 2015. The transaction leaves the company with $2.6bn in debt after the listing. The company sold 45m shares at $17, the midpoint of its range of $16-$18.
For the six months ended June 30, 2018, Cushman predicted revenues of $3.7bn up 18% from the same period a year ago.
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