Hilton Crushes Twitter in IPO Take
Hilton Crushes Twitter in IPO Take (YahooFinance)
In an Initial Public Offering (IPO) far less heralded than that of Twitter (TWTR), Hilton Worldwide Holdings, Inc. (HLT) re-entered the world of publicly traded companies when its 117.6 million shares sold for $20 each. The total float grew about five million shares more than anticipated on greater investor demand to generate a total investment of $2.35 billion. That makes HLT’s IPO the second largest of the year, behind Plains GP Holdings LP at $2.9 billion, and the largest hotel IPO ever, according to Morningstar analyst Chad Mollman. New investors in HLT can now claim to own a piece of the world’s largest hotel business, as Hilton’s market value has grown to $19.7 billion after the offering. And they can look to build value in the 2014.