Travelport in $1.7bn flotation plan
Monday, 19 Jan, 2010
0
Travelport plans to raise almost $2 billion through a listing on the London Stock Exchange.
The Galileo/Worldspan parent, which achieved earnings of more than $700 million in 2008, aims to complete the flotation in the first quarter of the year.
Alongside the planning initial public offering to raise $1.775 billion, the company has attracted $225 million in investment from the Government of Singapore Investment Corporation (GIC) in return for a 7.19% shareholding.
Travelport CEO Jeff Clarke said: “Flotation marks an important step in our future development.
“Listing in London is the natural choice given Travelport’s corporate headquarters in Ireland and its GDS and GTA operational business headquarters in the UK; it connects Travelport with one of the world’s most international and prestigious exchanges, ranking it alongside other notable global companies in their sectors.
“New investors will be able to share in our future and we are delighted by the support GIC has already shown by committing in December to make a significant investment.”
Google vice president for global advertiser operations John Herlihy is among five new non-executive directors appointed to the Travelport board.
by Phil Davies
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025