According to a new SEC filing, Douglas Elliman is planning to go public.
As reported by the Real Deal, the brokerage plans to spin off from Vector Group, pending board approval. The move will afford Douglas Elliman the opportunity to be publicly traded on the New York Stock Exchange under the ticker DOUG.
Should the move happen, Scott Durkin will remain in the top leadership position. The Real Deal notes that Vector shareholders will receive one share of DOUG for every two shares of Vector.
The spinoff is expected to be completed by the end of the year, pending approval from the FTC, according to Vector Group.