RE/MAX could raise $210 million in IPO



  • Denver-based RE/MAX going public.
  • RE/MAX issuing 10 million shares in IPO.
  • Stock will trade under the symbol RMAX

Denver-based RE/MAX expects to raise between $190 million and $210 million in its initial public offering, it said today.

The IPO will offer 10 million shares of its Class A common shares at a price expected to between $19 and $21 per share.

The company expects to grant the underwriters a 30-day option to purchase up to 1.5 million Class A common shares to cover overallotments, if any. The company has applied to list its Class A common shares on the New York Stock Exchange under the symbol “RMAX.”

The company intends to use the net proceeds from the offering to reacquire regional RE/MAX franchise rights in select markets, redeem preferred membership interests and to repurchase ownership stakes from existing shareholders.

Morgan Stanley, BofA Merrill Lynch and J.P. Morgan will act as joint book-running managers for the offering. William Blair, RBC Capital Markets and JMP Securities will act as co-managers for the offering. Perella Weinberg Partners is acting as advisor to RE/MAX.

RE/MAX, one of the world’s largest franchise real estate companies, was founded in Denver in 1973 by David and Gail Liniger.

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John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for, covering commercial real estate for the Internet publication.

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