Hospitality Leaders Hospitality Leaders Menu 0
Google Translate
Hospitality Industry News

Hilton shares jump 7.5% in first day of trading

Profile Photo By: H L
December 14, 2013

Hilton shares jump 7.5% in first day of trading

Hilton was taken private by The Blackstone Group in October 2007. Photo- ReutersHilton Worldwide Holdings shares jumped 7.5% in their market debut Thursday.

The hotelier raised $2.35 billion in its offering of 117.6 million shares at $20 each. That makes the total payoff larger than the $2.1 billion generated by Twitter’s IPO last month.

Hilton shares rose $1.50 to close at $21.50 in the first day of trading.

Hilton is the world’s largest hotel group with sites across the globe. It was taken private in 2007 by the Blackstone Group and returns to the market in the largest hotel IPO ever. The offering also gives it a total market capitalization well beyond that of its peers.

The McLean, Va.-based company plans to use proceeds from the offering to repay debt.

Its shares are trading under the symbol “HLT” on the New York Stock Exchange.

Source USA Today, http://www.usatoday.com/story/money/markets/2013/12/12/hilton-ipo/3998603/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+UsatodayTravel-Hotels+%28USATODAY+-+Hotels+Top+Stories%29

Suggested news

all access

Get full access to the hospitality industry news.

Sign up now. It’s free
Or import your details from