Cushman & Wakefield IPO Trading Debut, Ascent to $765M

Cushman & Wakefield’s first day of trading on the New York Stock Exchange was encouraging. The Chicago-based commercial real estate firm’s shares opened more than 6% above a $17-per-share initial target price, spiked up to $18.18 before eventually closing the day at $17.81, up 4.9%.

The 101-year-old company sold 45 million shares in its trading debut, raising $765 million. Its shares are now listed on the NYSE, trading under the symbol “CWK.”

Cushman & Wakefield expects to use the net proceeds from the ordinary shares 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, with any remaining net proceeds used for general corporate purposes. The firm has granted underwriters a 30-day option to purchase up to an additional 6,750,000 ordinary shares at the public offering price.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Cushman & Wakefield IPO Trading Debut, Ascent to $765M

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National CRE News In Your Inbox.

Cushman & Wakefield IPO Trading Debut, Ascent to $765M

Inside The Story

About Dennis Kaiser