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Thursday, March 23, 2023

Cushman & Wakefield (NYSE: CWK) Declares Pricing of Public Offering of Ordinary Shares

Cushman & Wakefield plc (NYSE: CWK) disclosed the pricing of a public offering of an underwritten public offering of 10,000,000 ordinary shares. The firm has set the price for the public at $18.75 per share. All of the ordinary shares are being presented by current shareholders. Cushman & Wakefield will not get any of the profit from the offering.

Furthermore, the selling shareholders include funds associated with TPG, PAG Asia Capital, and the Ontario Teachers’ Pension Plan Board. The underwriter will have a 30-day option to buy up to an extra 1,500,000 ordinary shares from the selling shareholders. The sole underwriter for the offering is Goldman Sachs & Co. LLC.

Shares of Cushman & Wakefield plc (NYSE: CWK) plunged 0.10% as it lost -0.02 during the trading session of Wednesday. In the past 52-week of a trading session, the share of the firm went up to $9.83 and went down to $19.44 from its 52-week low and high range, respectively.  Cushman & Wakefield plc has a total market capitalization of $4.30 billion at the time of writing.

The offering is anticipated to execute on June 7, 2021, dependent on certain execution conditions. An automatic shelf registration statement concerning the ordinary shares to be dump in the offering was submitted with the SEC on November 12, 2019. The offering became valid upon filing.

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