Re/Max, Burlington Stores Soar In Post-IPO Trading
Re/Max Holdings (RMAX) and Burlington Stores (BURL) soared higher in midday trading on the stock market after making their initial public offerings, while Empire State Realty Trust (ESRT) moved only slightly higher. Denver-based Re/Max, a leading franchiser of residential real estate brokerages, rose 21% to 26.74 after opening at $22 per share, above its initial price range of $19 to $21. It raised $220 million in the IPO of its common stock.
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