SoftBank-Backed Compass IPO Raises $450 Million at Low End (1)

Real estate brokerage Compass Inc. priced its initial public offering at the bottom of a reduced range to raise $450 million.

The company backed by SoftBank Group Corp.’s Vision Fund sold 25 million shares for $18 each, according to a statement confirming a Bloomberg News report. Earlier Wednesday, the company slashed the number of shares to be sold and lowered its target range to $18 to $19, after marketing 36 million shares for $23 to $26.

Compass, led by former Goldman Sachs Group Inc. banker Robert Reffkin, has a market value of about $7 billion based on the ...