
Hotel chain Hilton Worldwide Holdings announced Monday that it plans to raise up to $2.4 billion in its upcoming initial public offering, nearly doubling the amount previously mentioned. Hilton said it plans to offer 112.8 million shares at a price between $18 and $21 a share, raising as much as $2.4 billion. The much-touted Twitter IPO raised $1.8 billion in November. Of these shares, 64.1 million will be sold by Hilton and 48.7 million by a group unidentified selling stockholders, according to securities filing with Securities and Exchange Commission. The sum is bigger than the $1.25 billion in Hilton initial IPO papers filed in September. Hilton said it plans to use its proceeds from the IPO, which would be $1.2 billion if it prices at its midpoint of $19.50 per share, to pay down debt. The Blackstone Group acquired Hilton in 2007 for $25 billion, including $7 billion in debt, the world's biggest takeover in the hotel sector. Following the offering, Blackstone will continue to own a controlling stake in Hilton, Hilton said in the filing. Blackstone plans to hold 76.2 percent of the chain after the IPO.
GMT 17:56 2018 Wednesday ,17 January
Ericsson to write down 1.4 billion euros in fourth quarterGMT 19:16 2018 Saturday ,13 January
China shuts Marriott website over Tibet error, scolds other firmsGMT 17:31 2018 Thursday ,11 January
UK group bids for Europe's biggest aluminium smelterGMT 17:24 2018 Thursday ,11 January
UK supermarket Sainsbury's lifts outlook after bumper ChristmasGMT 17:52 2018 Tuesday ,09 January
H&M removes 'black boy' ad after racism accusationGMT 19:38 2018 Wednesday ,03 January
Petrobras pay $2.95bn to settle US class action on corruptionGMT 13:49 2018 Wednesday ,03 January
China’s Ant Financial drops $1.2 billion MoneyGram deal as US approval failsGMT 17:47 2017 Sunday ,31 December
BA owner to buy bankrupt Austrian airline Niki
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor