Realogy closes $1.77 billion secondary offering

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Underwriters of a secondary stock offering by Realogy Holdings Corp. fully exersised their option to buy 5.25 million shares, the company said today, bringing the total offering to 40.25 million shares at $44 per share, or $1.77 billion before expenses.

Realogy will not see any of the proceeds of the secondary offering. The shares were sold by funds associated with Apollo Global Management LLC, which took the company private in 2006 and continue to hold 25.2 million shares of Realogy common stock, or 17 percent of shares outstanding.