Empire State Building IPO Set To Raise $1.15B

Empire State Realty Trust Inc. plans to price an IPO of the company's stock between $13 and $15 each.

esbipo
archana3k1 via flickr
Empire State Realty Trust Inc. plans to price an IPO of the company's stock between $13 and $15 each, reports Crain's. According to officials for the proposed real estate investment trust, the REIT sold in a regulatory filing that is selling 71.5 million shares and will offer underwriters a chance to buy 10.7 million additional shares.
 
Assuming the underwriters exercise their overallotment option, Empire State Realty Trust would raise gross proceeds of $1.15 billion.

U.S. & World

Stories that affect your life across the U.S. and around the world.

Sanders on Top: Key Takeaways From the Nevada Caucuses

Coronavirus Lockdowns Lead to Rise in Mental Health Issues

 
The properties currently include twelve offices, seven in midtown Manhattan and the rest in the tri-state area.
 
THe stock will list under the ticker symbol "ESRT."
 
Read the full story on Crain's.
 
Copyright LXTVN - LXTV
Contact Us