Hilton Worldwide Inc prices IPO at $20 Dec 11
Published on Dec 12, 2013 6:17 AM
(REUTERS) - Hilton Worldwide Inc, the world's largest hotel operator, raised roughly US$2.26 billion (S$2.82 billion) in its initial public offering on Wednesday after pricing shares toward the high end of the range.
Backed by private equity and real estate firm Blackstone Group LP, Hilton priced its shares at US$20. The company and existing shareholders offered 112.8 million shares at a range of US$18 to US$21.
The Blackstone funds that bought Hilton are not selling any shares in the offering.
Blackstone took Hilton private in 2007 for US$26.7 billion, including debt, in one of the largest leveraged buyouts before the 2008 global financial crisis.