Industry News

Iggys House plans to sell 3 million shares

Company reports $9.5 million net loss since April 2005 launch

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Iggys House Inc., a company that offers discount real estate services and also has mortgage operations, plans to sell 3 million shares of common stock and expects to sell the shares for about $5 to $6 in its initial public offering, according to documents that the company filed this month with the U.S. Securities and Exchange Commission. The company had filed its initial IPO report, called a preliminary prospectus, in August, and the company seeks to list its stock on the NASDAQ exchange under the symbol "IGGY." An IPO date has not yet been announced for the company, which offers buyers about 75 percent of the commission it receives from the home seller or listing broker through its BuySide Realty subsidiary and free entry into a multiple listing service for home sellers through its Iggys House brand. Iggys house was founded by brothers Joseph and Avi Fox, who in 1996 created online stock brokerage company Web Street Securities and later took that company public and sold i...