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Re/Max IPO nets $225 million as underwriters exercise full option to purchase additional stock

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Re/Max Holdings Inc. says it netted $225 million after expenses in its initial public offering (IPO), with underwriters exercising the option to purchase all of the 1.5 million shares available to them. In all, Re/Max sold 11.5 million shares of its Class A common stock at a price of $22 per share in its IPO. With shares in the large franchisor's stock trading at $30.83 as of the market's close on Monday, up 40 percent from its IPO price, the IPO marked the most recent Wall Street win for the real estate industry. The other relatively new, publicly traded real estate companies Zillow, Trulia and Realogy also saw IPO success and have experienced strong share price gains. Firm, IPO date IPO share price Net proceeds from IPO Zillow, July 2011 $20 $75.7 million Trulia, September 2012 $17 $89.4 million Realogy, October 2012 $27 $1.2 billion Re/Max, October 2013 $22 $225 million Sources: Inman News, Re/Max and SEC filings for Trulia and Rea...