Categories: Business

Empire State Building to be listed on NYSE

The Empire State Building’s owners are planning to sell shares in the company, according to paperwork filed with regulators.

Empire State Realty Trust is aiming to raise $1 billion from listing on the New York Stock Exchange.

Some 71.5 million shares will be offered at a price of between $13 and $15 each. The final price will reportedly be set on October 1.

The landmark New York City skyscraper is the company’s most important asset.

The Empire State Building was opened during the Great Depression in 1931 and was the world’s tallest building until 1972 when the World Trade Center claimed its crown.

It is perhaps best known for its starring role in the 1933 movie version of King Kong.

The Empire State Building was opened during the Great Depression in 1931 and was the world’s tallest building until 1972

The Empire State Building has also featured prominently in other films such as Sleepless in Seattle and An Affair to Remember.

Empire State Realty Trust, which is a real estate investment trust, holds more than 18 other properties in its portfolio.

Its initial public offering has taken two years to come to market because of opposition from a small group of investors.

But it is expected to be one of the largest initial public offerings of a US real estate investment trust.

An investor said he was “very satisfied” with the prospectus.

“I voted for the REIT [Real Estate Investment Trust],” Barrett Browd, who owns units in the Empire State Building said.

“I felt that it was a good time to cash in.”

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

Donald Trump and Elon Musk Celebrate Election Victory at UFC 309

Image source: Wikimedia Commons President-elect Donald Trump celebrated his election victory at the Ultimate Fighting…

4 days ago

White House 2024: Donald Trump Wins, Kamala Harris Calls Him to Concede Election

Millions of voters across the US chose to return Donald Trump to the White House…

2 weeks ago

Who Won? Donald Trump Declares Victory as He Addresses Jubilant Supporters in Florida

Donald Trump declares victory in the US election as he addresses jubilant supporters in Florida.…

2 weeks ago

Stocks Soaring as Donald Trump Closes in on US Victory

Stocks around the world are rising as Donald Trump appears to be on the cusp…

2 weeks ago

Who Won? Kamala Harris Cancels Election Night Party as Path to Victory Narrows

Donald Trump has won Pennsylvania, North Carolina and Georgia and taken a lead over Kamala…

2 weeks ago

Quincy Jones Dead at 91

Quincy Jones, the celebrated musician and producer who worked with Michael Jackson, Frank Sinatra, Ray…

2 weeks ago