Deals
SoftBank-Backed Compass IPO Raises $450 Million at Low End
- Tech-focused real estate brokerage had slashed listing goals
- Shares expected to trade Thursday on New York Stock Exchange
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Real estate brokerage Compass Inc. priced its initial public offering at the bottom of a reduced range to raise $450 million.
The company backed by SoftBank Group Corp.’s Vision Fund sold 25 million shares for $18 each, according to a statement confirming a Bloomberg News report. Earlier Wednesday, the company slashed the number of shares to be sold and lowered its target range to $18 to $19, after marketing 36 million shares for $23 to $26.