NEW YORK, Dec. 4, 2017 /PRNewswire/ -- BGC Partners,
Inc. (NASDAQ: BGCP) ("BGC") announced today that Newmark Group,
Inc., a wholly owned subsidiary of BGC that will hold BGC's Real
Estate Services business ("Newmark"), has launched a roadshow for
the initial public offering ("IPO") of its Class A common stock.
Newmark has applied to list its Class A common stock on the NASDAQ
Global Market under the symbol "NMRK."
The IPO price is currently expected to be between $19.00 and $22.00
per share. Newmark is offering 30 million shares of its Class A
common stock in the IPO. The underwriters will also have a 30-day
option to purchase up to 4.5 million additional Class A shares at
the IPO price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, BofA Merrill Lynch, and Citigroup
are acting as joint book-running managers for the offering. Cantor
Fitzgerald & Co. is acting as a book-runner for the
offering.
The offering will be made only by means of a prospectus. Copies
of the preliminary prospectus relating to the offering may be
obtained from Goldman Sachs & Co. LLC, at: Goldman Sachs &
Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282; telephone: 1-866-471-2526,
facsimile: 212-902-9316 or by emailing
prospectusgroup-ny@ny.email.gs.com; BofA Merrill Lynch,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte,
NC 28255-0001, Attn: Prospectus Department, or by email at
dg.prospectus_requests@baml.com; Citigroup at: Citigroup c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by
telephone: 800-831-9146; or Cantor Fitzgerald & Co., Attn:
Prospectus Group, 499 Park Avenue, New
York, NY 10022, or by telephone at 1-212-915-1067 or by
email at prospectus@cantor.com.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission, but has not
yet become effective. These securities may not be sold, nor may
offers to buy be accepted, prior to the time the registration
statement becomes effective. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
these securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About BGC Partners, Inc.
BGC Partners is a leading
global brokerage company servicing the financial and real estate
markets. BGC owns GFI Group Inc., a leading intermediary and
provider of trading technologies and support services to the global
OTC and listed markets. BGC's Financial Services offerings include
fixed income securities, interest rate swaps, foreign exchange,
equities, equity derivatives, credit derivatives, commodities,
futures, and structured products. BGC provides a wide range of
services, including trade execution, broker-dealer services,
clearing, trade compression, post trade, information, and other
services to a broad range of financial and non-financial
institutions. Through brands including FENICS, BGC Trader,
Capitalab, Lucera, and FENICS Market Data, BGC offers financial
technology solutions, market data, and analytics related to
numerous financial instruments and markets. BGC's customers include
many of the world's largest banks, broker-dealers, investment
banks, trading firms, hedge funds, governments, corporations,
property owners, real estate developers, and investment firms.
BGC's common stock trades on the NASDAQ Global Select Market under
the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond
issuance of Senior Notes due June 15,
2042, which trade on the New York Stock Exchange under the
symbol (NYSE: BGCA).
About Newmark Group, Inc.
Newmark is a full-service
commercial real estate services business that offers a complete
suite of services and products for both owners and occupiers across
the entire commercial real estate industry. Newmark's
investor/owner services and products include capital markets, which
consists of investment sales, agency leasing, property management,
valuation and advisory, diligence, underwriting and, under other
trade names like Berkeley Point and NKF Capital, government
sponsored enterprise lending, loan servicing, debt and structured
finance and loan sales. Newmark's occupier services and products
include tenant representation, real estate management technology
systems, workplace and occupancy strategy, global corporate
services consulting, project management, lease administration and
facilities management. Newmark enhances these services and products
through innovative real estate technology solutions and data
analytics that enable its clients to increase their efficiency and
profits by optimizing their real estate portfolio. Newmark has
relationships with many of the world's largest commercial property
owners, real estate developers and investors, as well as Fortune
500 and Forbes Global 2000 companies.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains forward-looking
statements that are subject to substantial risks and uncertainties.
Any statements contained herein that are not statements of
historical fact may be deemed to be forward-looking statements. For
example, words such as "may," "will," "should," "estimates,"
"predicts," "potential," "continue," "strategy," "believes,"
"anticipates," "plans," "expects," "intends" and similar
expressions are intended to identify forward-looking
statements.
Actual results and the outcome and timing of certain events may
differ significantly from the expectations discussed in the
forward-looking statements. Factors that might cause or contribute
to such a discrepancy include, but are not limited to: the
possibility that Newmark's initial public offering (the "Newmark
IPO") may disrupt or have an adverse effect on BGC's or
Newmark's businesses; the expected timetable for completing the
separation of Newmark from BGC (the "Separation") and the Newmark
IPO; the possibility that the Separation and the Newmark IPO will
not be consummated within the anticipated timetable or at all,
including as the result of regulatory, market and other conditions;
the potential that BGC and Newmark will not realize all or any of
the expected benefits of the Separation and the Newmark IPO; and
the possibility that changes in interest rates, commercial real
estate values, the regulatory environment, the effects of weather
events or natural disasters, pricing or other competitive
pressures, and other market conditions or factors could cause the
results of BGC or Newmark to differ from the forward-looking
statements contained or incorporated by reference herein. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see Newmark's and BGC's filings with
the U.S. Securities and Exchange Commission. Except as required by
law, Newmark and BGC undertake no obligation to update any
forward-looking statements.
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SOURCE BGC Partners, Inc.