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Newmark Launches IPO, Lowers Common Stock Price


Newmark Group Inc. launched its initial public offering Friday morning with a ring of the opening Nasdaq bell by Newmark Chairman Howard W. Lutnick and CEO Barry M. Gosin, Connect Media reports.

The New York-based company, which includes commercial brokerage Newmark Knight Frank, trades under the symbol NMRK. 

The company has lowered its IPO target to $290M from the previously proposed $615M, pricing its offering of 20 million shares at $14. 

The IPO is expected to close on Dec. 19 and is subject to customary closing conditions.