Blackstone's Travelport files for IPO

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

The travel-booking platform purchased by Blackstone (NYSE:BX) eight years ago for $4.3B filed a $100M placeholder amount for the size of its IPO, but sources say the company may raise about $500M. The company hasn't been profitable since 2011, and proceeds will be used to repay some of the firm's $3.5B debt load.

Blackstone originally tried to take the company public in London in 2010, but markets were somewhat less receptive then they are now.

Among Travelport's assets are a 37% stake in Orbitz Worldwide (NYSE:OWW), making it the largest shareholder of that company.

The stock symbol will be TVPT.