Travelport Prices at Top of Range, Raises $480M in IPO
September 29, 2014
Online travel commerce platform Travelport raised $480 million in its IPO, pricing 30 million shares at $16 (the top of its expected range). The Blackstone Group portfolio company is listed on the NYSE under the symbol TVPT. With a presence in over 170 countries, Travelport has roughly 3,400 employees and reported a net revenue of $2.1 billion in 2013. Blackstone backed the company in 2006, and the firm’s 9.54% stake was diluted to about 7% after the offering. Travelport closed trading Friday at $16.29.