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LOS ANGELES - Commercial real estate services firm CB Richard Ellis Group Inc. has priced its public offering of 50 million shares at $3.77 per share, valued at about $180 million dollars.
| CBG | 4.94 |  -0.06 |
CB Richard Ellis said late Wednesday that underwriters of the deal have the option to buy an additional 7.5 million shares to cover overallotments.
If underwriters exercise their full option, the offering will be worth about $207.1 million.
CB Richard Ellis expects to use the proceeds from the sale for general corporate purposes.
The offering was made through an underwriting syndicate led by Credit Suisse Securities and Banc of America Securities.
CB Richard Ellis shares rose 38 cents, or 10 percent, to $4.15 in premarket trading.
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