Douglas Elliman Real Estate to go public

Douglas Elliman, the nation’s sixth largest brokerage, is set to go public on the New York Stock Exchange under the “DOUG” ticker as its public parent company, Vector Group, plans to spin it off as a separate company, likely by the end of the year. Vector Group Chairman Howard Lorber says operating as a standalone public company will give Douglas Elliman easier, more direct access to capital markets and allow it to tell a more focused marketing message without any entanglements with tobacco, the other major business operated by Vector Group.