Hilton Worldwide raises $2.35 billion
World's biggest hotel operator, Hilton Worldwide Holdings has been able to raise $2.35 billion in an initial public offering.
The company and existing shareholders sold a total of about 117.6 million shares for $20 each in one of the largest initial public offering for a lodging company. The company, which is based in McLean, Va, had offered 112.8 million shares for $18 to $21 per unit. The leading hotel chain had said in a regulatory filing that it will offer 112.8 million shares priced at $18 and $21 each. The company is offering about 64.1 million shares and selling shareholders are offering 48.7 million shares.
The initial public offering comes at a time when the global hotel industry is recovering during the previous two years. The IPO market has also been improving during the year as a total of 200 companies have chosen to get listed this year with record high prices for their shares.
It is believed that Hilton will have the second- or third-largest IPO this year in the U. S if the prices above the middle of the expected range while some suggest that it is likely to be the biggest IPO in the country this year. GP Holdings LP, which raised $2.9bn in October and Twitter's $2.1 billion IPO are among the leading issues this year.