BANGALORE: The family that controls the Empire State Building plans to kick off a formal roadshow to sell the iconic tower as early as this week by offering shares in a real estate investment trust (REIT), a person familiar with the matter said.
The building and its investors are managed by Malkin Holdings, which is spearheading the initial public offering (IPO) and hopes to price the offering as early as the first week of October through lead underwriters Bank of America Corp and Goldman Sachs Group Inc, The Wall Street Journal reported earlier in the day.
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