Chicago, IL — A moment 101 years in the making. Cushman & Wakefield plc (“Cushman & Wakefield”) announced on August 1, 2018 the pricing of its initial public offering of 45,000,000 of its ordinary shares, at a price to the public of $17.00 per share. The shares will be listed on the New York Stock Exchange and will trade under the symbol “CWK” beginning August 2, 2018. In addition, Cushman & Wakefield has granted the underwriters a 30-day option to purchase up to an additional 6,750,000 ordinary shares at the public offering price less underwriting discounts and commissions.
Cushman & Wakefield expects to use the net proceeds from the ordinary shares offered by it to reduce outstanding indebtedness, in particular to repay its second lien loan, to pay the outstanding amount of the deferred payment obligation related to its acquisition of Cassidy Turley and any remaining net proceeds for general corporate purposes.
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.