RE/MAX soars




  • RE/MAX goes public at $22 a share.
  • Price rose more than 22% soon after it started trading.
  • It trades under the symbol RMAX.

Denver-based RE/MAX began trading this morning. Although soaring may be a better way to describe it.

The stock went public at $22 per share, slightly higher than the $19 to $22 range originally anticipated in the initial public offering the Class A shares. Soon after it started trading under the symbol RMAX on the New York Stock Exchange, the stock rose almost $5 a share, or more than 22 percent. The total market cap of the company, however, was not immediately apparent.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 1.5 million shares of Class A common stock to cover over-allotments, if any.

The net proceeds of the offering are estimated to be approximately $194.2 million after deducting underwriting discounts and commissions and estimated offering expenses.

The company, founded in Denver by David and Gail Liniger in 1973, 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 are acting as joint book-running managers for the offering.

William Blair, RBC Capital Markets and JMP Securities are acting as co-managers for the offering. Perella Weinberg Partners is acting as advisor to RE/MAX.

Have a story idea or real estate tip? Contact John Rebchook at is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.



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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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