Hil­ton Plans IPO

Business Traveler (USA) - - IN-FLIGHT ENTERTAINMENT -

Hil­ton World­wide has filed a pro­posed ini­tial pub­lic of­fer­ing with the Se­cu­ri­ties and Ex­change Com­mis­sion. The num­ber of shares that will be of­fered and price range of the pro­posed of­fer­ing were not yet de­ter­mined. Hil­ton is seek­ing to raise up to $1.25 bil­lion in stock, ac­cord­ing to the Wall Street Jour­nal. Pro­ceeds from the of­fer­ing will be used to re­pay debt and other gen­eral cor­po­rate pur­poses.

Hil­ton had pre­vi­ously been a pub­licly held com­pany but went pri­vate in 2007 with Black­stone Group, which has since turned the ho­tel com­pany around. Its rev­enue in 2012 was $9.3 bil­lion, a 15 per­cent in­crease from 2010. Deutsche Bank Se­cu­ri­ties, Gold­man, Sachs & Co., BofA Mer­rill Lynch and Mor­gan Stan­ley & Co. act as the joint book-run­ning man­agers for Hil­ton’s of­fer­ing.

For more in­for­ma­tion visit hil­ton.com.

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