Reuters: Regulatory News: UPDATE 1-Domus Holdings files for $1 bln IPO

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UPDATE 1-Domus Holdings files for $1 bln IPO Jun 8th 2012, 13:58 Fri Jun 8, 2012 9:58am EDT June 8 (Reuters) - Residential real estate services provider Domus Holdings Corp, the parent of Realogy Corp, filed with U.S. regulators to raise up to $1 billion in an initial public offering of its common stock. The IPO market has been hit by poor pricing, pulled deals and delayed offerings in the recent months, but the housing market has been showing signs of recovery. The U.S. spring home-selling season got off to a strong start in April, with rising sales and prices providing evidence that a housing market recovery was gaining some traction. Many economists think the housing sector will actually add to economic growth in 2012 for the first time in seven years. Domus provides real estate brokerage, financing and relocation services. Domus Holdings, which franchises brokerage brands like Century 21, Era, Sotheby's International Realty and Better Homes, plans to use the proceeds from the offering to repay debt. The Parsippany, New Jersey-based company, which counts Brookfield Residential Property Services, an affiliate of Brookfield Asset Management Inc, and RE/MAX International Inc among its competitors, did not reveal how many shares it plans to offer and their price. The company, which is backed by Apollo Management Holdings and Paulson & Co, said Apollo Management will continue to own a majority of the voting power of its outstanding common stock. Domus Holdings did not reveal the names of the underwriters. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. Link this Share this Digg this Email Reprints

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