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Colliers International Group Inc. (CIGI) is a diversified professional services and investment management company headquartered in Canada. With a global presence in more than 400 offices across 65 countries, Colliers employs approximately 18,000 individuals dedicated to delivering comprehensive real estate services and investment management to corporate and institutional clients.
The company's primary service lines include Outsourcing & Advisory, Investment Management, Leasing, and Capital Markets. Colliers operates through four distinct segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and Australasia; and Investment Management. This operational structure allows Colliers to leverage regional expertise while maintaining a cohesive global strategy.
Recent achievements highlight Colliers' commitment to growth and market leadership. Notably, Sankey Prasad has expanded his leadership role to become Chairman and Managing Director for both India and the Middle East, further strengthening Colliers' presence in these key regions. Under Prasad's leadership, Colliers has diversified into new markets, developed cutting-edge technologies, and achieved significant year-over-year growth.
Financially, Colliers has demonstrated robust revenue growth, particularly in high-value recurring services. The company's annual revenues are approximately $4.3 billion, with $98 billion of assets under management. This financial strength supports Colliers' mission to maximize the potential of property and real assets, accelerating the success of clients, investors, and employees alike.
Colliers is also active in strategic acquisitions to bolster its capabilities and market reach. For example, the acquisition of key U.S. Northeast and Mid-Atlantic regions has enhanced Colliers' service offerings and client relationships in these areas.
Colliers' core values are reflected in its commitment to providing expert real estate and investment advice through a client-focused approach. The company continues to evolve in response to market trends, delivering innovative solutions that meet the diverse needs of clients worldwide.
With a strong leadership team and a clear vision for the future, Colliers remains a formidable player in the global real estate and investment management industry, consistently delivering value and driving growth for its stakeholders.
Colliers International (CIGI) has announced the opening of a new office in Raleigh, North Carolina, enhancing its service offerings in the region. This follows the acquisition of Colliers | Charlotte, allowing Colliers to provide services such as leasing, capital markets, and property management to a broad client base. J. Scott Adams will oversee operations, leveraging his 20 years of local market experience. The firm emphasizes growth in the Southeast U.S., aiming to strengthen its brand and service capabilities.
Colliers International Group (NASDAQ: CIGI) has announced a normal course issuer bid (NCIB) to buy back up to 3,000,000 subordinate voting shares during the period from July 20, 2020, to July 19, 2021. This represents approximately 10% of its public float as of June 30, 2020. The purchases will occur on the TSX, NASDAQ, or alternative trading systems. The average daily trading volume on the TSX for H1 2020 was 107,482 shares, limiting daily NCIB purchases to 26,870 shares. Colliers' previous NCIB, allowing the purchase of 2,900,000 shares, expires on July 17, 2020.
Colliers International (NASDAQ and TSX: CIGI) has completed the acquisition of a controlling interest in Maser Consulting P.A., enhancing its position in the engineering design services sector. Maser, with over 1,000 professionals and a 2019 revenue of $167 million, will operate under the rebranded name 'Colliers Engineering Services' in early 2021. This move diversifies Colliers' revenue streams and strengthens its Outsourcing & Advisory segment. The partnership aims to leverage both companies' expertise to tap into the $100 billion engineering design services market.
Colliers International Group (CIGI) has been named to the 2020 Global Outsourcing 100 list by IAOP® for the 14th consecutive year, earning All Star distinction for top scores in Customer References, Awards & Certifications, Programs for Innovation, and Corporate Social Responsibility. The company achieved a perfect score in Customer References, highlighting its commitment to client success. This prestigious recognition underscores Colliers' strong leadership in the outsourcing sector and its dedication to delivering exceptional service.
Colliers International Group (NASDAQ: CIGI) has declared a semi-annual cash dividend of US$0.05 per Common Share, payable on July 13, 2020. Shareholders on record by June 30, 2020, will receive this dividend, classified as an 'eligible dividend' for Canadian tax purposes. Colliers operates in 68 countries with a workforce of over 15,000 professionals, delivering strong investment returns. In 2019, the company reported revenues exceeding $3.0 billion, with $33 billion in assets under management.
Colliers International Group has completed a private placement of 4.00% convertible senior subordinated notes due 2025, raising US$230 million in gross proceeds. The funds will primarily be used to reduce existing debt under its revolving credit facility, making it accessible for future working capital and acquisitions. The notes, which bear a 4.00% interest rate, have a conversion rate of 17.2507 subordinate voting shares per US$1,000 principal amount, reflecting a premium of 32.5% over the recent stock price.
Colliers International Group (CIGI) announced a $200 million offering of convertible senior subordinated notes due in 2025. The notes will bear an interest rate of 4.00% per annum and are expected to close by May 19, 2020. Proceeds will be used to repay existing debt under its revolving credit facility, thus providing availability for working capital and acquisitions. The initial conversion price is set at approximately $57.97 per share, reflecting a 32.5% premium to the previous closing price. The offering is limited to qualified institutional buyers.
Colliers International Group (NASDAQ, TSX: CIGI) has announced a US$200 million offering of convertible senior subordinated notes due 2025. The proceeds will be utilized to reduce debt under its revolving credit facility, aiding in working capital and acquisitions. The offering includes a 30-day option for purchasers to buy an additional US$30 million. The notes are convertible into Subordinate Voting Shares and subject to specific terms and conditions. This move reflects Colliers' strategy to strengthen its financial position in challenging market conditions.
Colliers International (CIGI) is collaborating with its proptech partners from 2018 and 2019 to provide innovative virtual tools to address COVID-19 challenges. These solutions employ cutting-edge technologies like AI, augmented/virtual reality, and data analytics. VP Zach Michaud highlighted that such tools, including lease abstraction and workplace analytics, offer competitive advantages. Despite challenges, the company remains committed to its accelerator program, aiming to enhance innovation in 2021. Colliers has invested in 19 startups and worked with over 150 mentors, reinforcing its position in real estate services.
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