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Apollo-backed Realogy targets $1bn IPO

28 Sep 2012

Apollo Global-backed real estate services company Realogy Holdings hopes to hit a $3.51bn valuation during its IPO later this year.

The company plans to sell 40 million shares of its common stock at between $23 and $27 each.

Parent company Domus filed for the $1bn-targeting IPO in June.

Domus, which franchises brokerage brands including Sotheby’s International Realty and Century 21, did not reveal how many shares it plans to offer or their price at the time.

Apollo will continue to hold a majority of the voting power of its outstanding common stock following the offering, the filing added.

Fellow Apollo-backed business Berry Plastics is seeking a $2bn valuation by setting terms for its IPO.

The container maker, which is owned by Apollo and Graham Partners, has hired Bank of America to lead the offering.

Berry filed to raise $500m through an IPO of its common stock in March.

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