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The commercial real estate services company Cushman & Wakefield announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering (IPO) of its ordinary shares.
In a statement, the New York City-headquartered company said the “number of shares to be offered and the price range for the proposed offering have not yet been determined.” However, a MarketWatch report citing unnamed “people familiar with the deal” claims that company “could seek to raise about $1 billion in the IPO and seek a valuation in excess of $5 billion.”
The private equity firm TPG acquired Cushman & Wakefield from Italy's Exor SpA in 2015 for $2 billion. Cushman & Wakefield operates approximately 400 offices in 70 countries.
