Cushman & Wakefield sets IPO pricing

Wall Street

Cushman & Wakefield has set the price range for its IPO at $16 to $18 per share, according to a prospectus filed with the US Securities and Exchange Commission on Monday.

The firm, backed by private equity firm TPG Capital expects to raise up to $810m (£618m) from the initial public offering (IPO). More than half of the proceeds, $470m, will be used to pay down debt. The property agency has a total debt of $3bn, the filing shows.

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