Sabre aiming for 900 million dollar IPO
Travel tech firm Sabre says it is hopeful of raising almost $900 million in its upcoming initial public offering.
It said it will sell 44.7 million shares for $18-$20, detailed in a Securities and Exchange Commission filing on Friday.
The firm has not yet confirmed the date for the IPO.
Sabre’s owners, Texas Pacific Group and Silver Lake Partners, will offer around 17% of the company in the IPO and based on $20 a share, would give the company a valuation of over $5 billion.
Sabre’s former CEO Sam Gilliard first expressed a desire to take the company public again over three years ago.
Current CEO Tom Klein publicly revealed the company’s financial health in January, showing net losses every year since 2008.
Sabre recorded a loss of $154.5 million for the first 9 months of 2013 but revenue rose slightly by less than 1% to $2.34 billion.
In its initial S-1 statement filing in January, Sabre said it would to use proceeds from the IPO to help pay down debt.
Southlake, Texas, based Sabre provides global distribution and IT services to the travel trade and is the parent company of Travelocity.
It has a near 10,000 workforce employed in 60 countries.
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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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