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Newmark’s IPO bombed. Here’s why

Newmark’s IPO bombed. Here’s why

Newmark Knight Frank’s blockbuster IPO in December is shaping up to be a disappointment. Blame bad timing and confusion over the company’s earnings. Newmark, which was owned by Howard Lutnick’s BGC Partners, initially planned to sell 30 million shares for $19 to $22. Instead it sold 20 million for $14 each in its Dec. 15 IPO on the Nasdaq stock exchange. As of Tuesday, the share price had risen slightly, to $15.47. “It didn’t price […]

Source: realdeal


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