Cushman & Wakefield announced closing of its initial public offering of ordinary shares

Cushman & Wakefield announced closing of its initial public offering of ordinary shares

CHICAGO, IL, August 6, 2018 Cushman & Wakefield plc (“Cushman & Wakefield”) today announced the closing of its initial public offering of 45,000,000 of its ordinary shares, at a price to the public of $17.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 6,750,000 ordinary shares from Cushman & Wakefield. As a result, the total initial public offering size was 51,750,000 shares. The shares are listed on the New York Stock Exchange and trade under the symbol “CWK.”

Cushman & Wakefield also announced the initial closing of a primary private placement investment by Vanke Service (HongKong) Co., Limited in an aggregate number of ordinary shares that will represent ownership of 4.9% of outstanding ordinary shares after giving effect to the initial public offering and the full exercise of the underwriters’ option to purchase additional ordinary shares.

Cushman & Wakefield expects to use the net proceeds from the ordinary shares offered by it to reduce outstanding indebtedness, in particular to repay its second lien loan, to pay the outstanding amount of the deferred payment obligation related to its acquisition of Cassidy Turley and any remaining net proceeds for general corporate purposes.

Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC and UBS Investment Bank served as joint book-running managers and representatives of the underwriters for the offering. Barclays Capital Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and William Blair & Company, L.L.C. also served as joint book-running managers for the offering. TPG Capital BD, LLC, HSBC Securities (USA) Inc., Credit Agricole Securities (USA) Inc., JMP Securities LLC, China Renaissance Securities (US) Inc., Fifth Third Securities, Inc., Academy Securities, Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc., Siebert Cisneros Shank & Co., L.L.C. and The Williams Capital Group, L.P. served as co-managers for the offering.

The offering was made only by means of the written prospectus forming part of the effective registration statement. Copies of the final prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email: [email protected], Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526 or email: [email protected] and UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: 888-827-7275 or email: [email protected]

A registration statement relating to these securities was declared effective as of August 1, 2018 by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities law in any such state or jurisdiction.

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