NEW YORK (AP) — Shares of real estate services provider Realogy, whose brands Century 21, Coldwell Banker and The Corcoran Group, soared more than 22 percent in their first day of trading on the New York Stock Exchange.
The company’s stock jumped $5.92 to $32.92 in early trading.
Realogy Holdings Corp. said Thursday that the IPO of 40 million shares priced at $27 per share, at the high end of the projected range of $23 to $27 per share.
The Parsippany, N.J., company raised $1.08 billion from the offering. That makes it the third-largest U.S. IPO of the year, according to Renaissance Capital.
Realogy plans to use the proceeds, along with available cash, mostly to pay back outstanding debt.
The stock is trading under the “RLGY” ticker symbol.