Newmark Group (NMRK) expects to raise $615 million in an initial public offering (IPO) on Friday, December 15th, IPO Scoop reports. The company plans to issue 30,000,000 shares at $19.00-$22.00 per share.

In the last twelve months, Newmark Group generated $1.5 billion in revenue and $243.1 million in net income. Newmark Group has a market-cap of $3.3 billion.

Goldman Sachs, BofA Merrill Lynch, Citigroup, Cantor Fitzgerald, PNC Capital Markets, Mizuho Securities, Capital One Securities and Keefe, Bruyette & Woods (A Stifel Company) acted as the underwriters for the IPO and Sandler O’Neill + Partners, Raymond James, Regions Securities, CastleOak Securities and Wedbush Securities were co-managers.

Newmark Group provided the following description of their company for its IPO: “Newmark is a rapidly growing, high margin, full-service commercial real estate services business that offers a full suite of services and products for both owners and occupiers across the entire commercial real estate industry. Since 2011, the year in which we were acquired by BGC Partners, a leading global brokerage company servicing the financial and real estate markets and listed on the NASDAQ Global Select Market, we have been the fastest growing U.S.-listed commercial real estate services firm, with a compound annual growth rate (which we refer to as “CAGR”) of revenue of 41%. “.

Newmark Group was founded in 1929 and has 4500 employees. The company is located at 125 Park Avenue, New York, New York 10017, US and can be reached via phone at (212) 372-2000 or on the web at http://www.ngkf.com.

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