Colliers International Group Inc. and FirstService Corporation announced the completion of their separation into two independent, publicly traded companies – Colliers International Group Inc. and new FirstService Corporation. Colliers's shares are expected to begin trading on The NASDAQ Stock Market under symbol CIGI and the Toronto Stock Exchange under symbol CIG on June 2, 2015.
"Colliers thrived as part of FirstService; its revenues grew from approximately $200 million in 2004 to $1.6 billion in 2014, thanks to an exceptional management team, soundly executed growth strategy, and a disciplined approach to creating shareholder value,” said Jay Hennick, Executive Chairman and largest shareholder of Colliers.
Shareholders will benefit from the strong insider ownership and continuity of management to which they're accustomed; largest shareholder Jay Hennick continues his leadership role as Executive Chairman, while John Friedrichsen, serves as Chief Financial Officer and Elias Mulamootil will serve as Global Head of Mergers and Acquisitions. Doug Frye, Global President and Chief Executive Officer of Colliers International, will retain the role he has for 13 years with Dylan Taylor, Chief Operating Officer, overseeing the executive team in charge of operations of Colliers.
Source: Colliers International