Empire State Building REIT could raise as much as $1.07B in IPO


Empire State Realty Trust (ESRT), which includes the Empire State Building as its centerpiece property, has set an IPO range of $13-15.

With Empire State planning to sell at least 71.5M shares, it could raise up to $1.07B, putting it in the top three for REIT debuts. There is also a greenshoe option for 10.725M shares.

Empire State Realty Trust plans to set the final price on October 1, and to trade on the NYSE under the symbol "ESRT," and apparently not ESB, as originally envisaged. (SEC filing)

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