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IPO puts Travelport’s value at 1.9 billion
Ticketing technology firm Travelport Worldwide’s planned initial public offering puts its value at up to $1.9 billion.
Travelport is offering for sale 30 million shares in the IPO, which at a guide price of $14-$16 per share, will generate around $480 million, it said in a regulatory filing.
The Atlanta, Georgia-based company said it will use the funds to repay debt, which was estimated at $3.4 billion earlier this year.
This is the company’s second effort to go public after a failed attempt in 2010, citing the sovereign debt crisis.
Travelport’s GDS platform, which is the travel industry’s third largest, processed $85 billion of travel spending in 2013 and revenue for the first half of this year was $1.12 billion, a 3.5% rise from a year ago.
It plans to list its shares on the New York Stock Exchange.
This is the second GDS operator to file for an IPO this year, following Sabre in April.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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