Colliers International goes public on Nasdaq

FirstService Corporation has completed the spin-off of its non-Colliers businesses into a separately traded entity that establishes Colliers International as its own publicly traded entity now known as Colliers International Group Inc (CIGI). Colliers International's stock began trading on the Nasdaq on June 2nd.

"This is exciting news for the Irish arm of Colliers," says Declan Stone, managing director of Colliers in Ireland.

“It is especially pertinent given our worldwide capital markets and investor connections. We can market Irish real estate globally and equally assist international investors, capital providers and major corporations in coming here.”

In Ireland Colliers is 60 per cent owned by CIGI and 40 per cent by local directors. The launch of Colliers International should provide it with the flexibility to pursue independent growth and value creation strategies. It will also allow it to be valued against comparable publicly traded commercial real-estate firms in the world.

First Service had a variety of real-estate corporate components and the launch of Colliers International separately with its pure real-estate services core provides investors and clients with better visibility on the business and performance evaluation. Colliers International has 16,300 property professionals in 502 offices in 67 countries.