Travel review site TripAdvisor will launch on the Nasdaq stock exchange today with an expected value of around $4bn.
TripAdvisor shares, being traded under the name TRIP, will go on sale at 09:00hrs in New York.
The company, which has websites in 30 countries, is being spun off by parent Expedia.
Expedia has been the largest buyer of advertising on the TripAdvisor website, accounting for as much as 35% of its total revenue, according to a report in today's Financial Times. However, the company expects to attract more business from Expedia's rivals following the sale.
After the spin-off, Expedia will no longer have any ownership interest in TripAdvisor.
By Linsey McNeill
Wednesday, December 21, 2011
Established by the famed Sarkies Brothers in 1885, the Eastern & Oriental (E&O) Hotel in Penang is the only hotel in the heart of the George Town UNESCO World Heritage Site that possesses prime sea frontage. Today, the luxurious 228 all-suite hotel stands as the grand dame of heritage hotels, its distinctive classic elegance and grace of service enhanced with time.
For more information, visit www.eohotels.com