Realogy Holdings priced its initial public offering on Wednesday at $27 a share, according to a person briefed on the matter, hitting the top of its price range as the the real estate giant that runs Century 21 returns to the public markets.
At $27, Realogy will have raised $1.08 billion, all of which is earmarked for paying down some of the billions of dollars in debt that it took on as part of its 2006 sale to Apollo Global Management. Should underwriters exercise an overallotment option to satisfy additional demand, the company will have raised $1.24 billion.
The strong showing by the real estate company comes amid what has been a relatively rough patch for companies seeking to go public. Last week, the restaurant-and-arcade operator Dave & Buster's Entertainment withdrew its initial offering, citing adverse market conditions.
Realogy's offering was led by Goldman Sachs and JPMorgan Chase.
