CB Richard Ellis to Sell Stock Worth up to $300M

Los Angeles, Calif.-based commercial real estate firm CB Richard Ellis Group Inc. has filed plans to sell stock worth up to $300 million. The company will use Bank of America Merrill Lynch as its distribution agent for the sale. CB Richard Ellis said in a regulatory filing that it may offer and sell Class A shares through BofA Merrill from time to time at prevailing market prices or negotiated prices. It may also sell shares directly to BofA Merrill at a price to be agreed upon at the time of the sale. Separate filings will be submitted if the company decides to sell directly to BofA Merrill, it says. BofA Merrill will receive a commission of 2 percent of the gross sales price for any shares it sells as the distribution agent.