Jones Lang LaSalle Prices Offer Of 6.5M Shares

CHICAGO (AP) — Real-estate services firm Jones Lang LaSalle Inc. said Thursday it priced a public offering of 6.5 million shares at $35 each, for implied gross proceeds of $227.5 million.

The company expects the offer to close Tuesday. The funds will be used to pay back debt and for general corporate purposes.

Jones Lang LaSalle said earlier this week it would offer 5.5 million shares to the public.

The underwriters of the offer will have an option to buy as many as 975,000 additional shares within the next month.

Merrill Lynch is serving as book-running manager of the offering, and BMO Capital Markets, ABN AMRO Inc. and Barclays Capital are the lead managers.

The company's stock finished at $35.66 on Wednesday.