Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

Franchisor Re/Max Holdings Inc. announced today that it has priced an initial public offering that it expects will net at least $177 million.The franchise network, which serves more than 90,000 agents in 6,300 offices and 90 countries, said it will offer 10 million shares that it expects to be priced between $19 and $21 per share. Re/Max also said it intends to grant the underwriters of its IPO a 30-day option to to buy up to 1.5 million additional shares.After deducting underwriting discounts and estimated offering expenses, Re/Max expects net proceeds of $177 million from the offering, assuming an IPO price of $20 per share. If underwriters fully exercise their option to purchase additional shares, the net proceeds will total $205.2 million, the company said in an amendment to it...