Icon of NYC Makes Debut With Empire State Building IPO
Throngs of tourists ascend the Empire State Building daily to gape at New York. Now investors can be part of the story with its market debut Wednesday.
After a day of heavy trading, the stock ended up 10 cents, or less than 1 percent, to $13.10. Empire State Realty Trust, which owns the Depression-era landmark, raised about $754 million. The company sold about 71.5 million shares for $13 each, the low end of its prior estimate of $13 to $15 per share. It listed on the New York Stock Exchange under the ticker symbol “ESRT.”
This article appeared in print on page 5 of edition of Hamodia.
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