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Real estate IPO surges 22%

Shares of real estate services provider Realogy, whose brands include Century 21, Coldwell Banker and The Corcoran Group, soared more than 22 per cent in their first day of trading on the New York Stock Exchange. The stock jumped $5.92 to $32.

Shares of real estate services provider Realogy, whose brands include Century 21, Coldwell Banker and The Corcoran Group, soared more than 22 per cent in their first day of trading on the New York Stock Exchange. The stock jumped $5.92 to $32.92 in early trading. Realogy Holdings Corp. said the IPO of 40 million shares priced at $27 per share, at the high end of the projected range of $23 to $27 per share. The Parsippany, N.J., company raised $1.08 billion from the offering - the third-largest U.S. IPO of the year.