NEW YORK, June 7 BGC Partners Inc plans
to spin off its Newmark Grubb Knight Frank real estate services
unit in an initial public offering before the end of the year,
Chief Executive Officer Howard Lutnick said on Wednesday.
BGC said in February it had confidentially submitted a draft
registration statement on a proposed IPO for the unit to the
U.S. Securities and Exchange Commission.
Newmark's market debut will likely happen between late
September and November, Lutnick said at the Sandler O'Neill
Global Exchange and Brokerage Conference in New York City.
(Reporting by John McCrank; Editing by Jonathan Oatis)