Hilton Worldwide beats target in shares sale
Hilton raised $2.35 billion when it floated on the New York stock exchange yesterday, selling five million more shares than initially planned.
The hotel group sold 117.6 million shares at $20 each. It announced last week that it was aiming to sell 112.8 million for between $18 and $21 each.
Shares jumped 8% above their $20 offer price after their stock market debut.
Hilton, whose brands include Conrad, Waldorf Astoria, Doubletree, Embassy Suites, Homewood Suites, Home2Suites, Hilton Garden Inn, Hampton Inn and Hilton Grand Vacations, will use the money raised to pay down debt.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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