Douglas Elliman Inc. late Tuesday filed plans to offer 77.7 million shares for a maximum value of about $237 million at a yet-to-be-determined price for trading under the symbol "DOUG" on the New York Stock Exchange as part of its spin-off from Vector Group Ltd. /zigman2/quotes/206349225/composite VGR -0.18% . Douglas Elliman will own the real estate services and property technology business currently operated by New Valley LLC, a Vector subsidiary. It will be capitalized with approximately $200 million in net cash and cash equivalents. Vector Group announced plans to spin off Douglas Elliman on Nov. 8. The transaction is expected to qualify as a tax-free distribution for U.S. federal income tax purposes for Vector and its stockholders. Douglas Elliman will be based in Miami after the deal closes. Shares of Vector Group are up 34.3% so far in 2021, compared to a rise of 24.8% by the S&P 500.