La Quinta preps for IPO

|About: La Quinta Holdings Inc. (LQ)|By:, SA News Editor

La Quinta (LQ) plans to sell 37.2M shares in a price range of $18 to $21.

The indicated price range gives the hotel operator a valuation of $2.57B at the top end.

La Quinta is currently owned by Blackstone (BX) which will retain an ownership stake of around 64% following the IPO if underwriters unload all their shares.

SEC Form S-1