Seeking Alpha

Blackstone's Travelport files for IPO

  • 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.
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Comments (1)
  • psychological-dividends
    , contributor
    Comments (811) | Send Message
     
    Thank you. I'll make sure not to buy it.
    4 Jun 2014, 10:00 AM Reply Like
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