Commercial brokerage and real estate investment services firm Marcus & Millichap Inc. says it netted $34.6 million after expenses in today’s initial public offering of 6 million shares priced at $12 a share.

About 2.7 million shares were offered by Marcus & Millichap itself, while existing stockholders offered another 3.3 million shares. In the first day of trading on the New York Stock Exchange, the company’s shares closed up nearly 12 percent, at $13.42.

The Calabasas, Calif.-based company said it will use proceeds from the IPO for “general corporate purposes, including capital expenditures and working capital to expand its services and potential acquisitions of real estate businesses or companies.” Source: marcusmillichap.com

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription