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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Hilton IPO To Top $2.37B 0 comments
    Dec 2, 2013 11:14 AM | about stocks: HLT, BX

    Originally published at www.seclive.com

    Hilton Worldwide, Inc. plans to raise as much as $2.37B in an initial public offering that could be made before the end of the year, which if done before year's end would mark the largest-ever hotel IPO and potentially the second-largest IPO for the year. The hotel chain, which operates in 90 countries, with 4,041 hotels totaling 665,667 rooms, is selling 64.1 million shares priced between $18.00 and $21.00 per share. Should underwriters execute the additional 16.9 million shares authorized, the IPO could top $2.72B. The offering represents around 11.5% of the company and the company has stated it intends to use the proceeds to pay down $1.25B in debt. Blackstone Group (NYSE:BX), which owns Hilton, appears to be taking advantage of a strong IPO market with low interest rates in an effort to cash in on its investments.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: IPO Stocks: HLT, BX
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