India, April 27 -- Stock of RE/MAX Holdings, Inc. (RMAX) is moving up about 21 percent on Monday morning trading after the company entered into an acquisition deal with the Real Brokerage Inc., where the latter will acquire RE/MAX, LLC or REMAX, a unit of RE/MAX Holdings, to form a new real estate platform named Real REMAX Group for about $880 million.
The company's shares are currently trading at $9.78 on the New York Stock Exchange, up 21.98 percent. The stock opened at $6.59 and has climbed as high as $10.30 so far in today's session. Over the past year, it has traded in a range of $5.46 to $10.32.
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