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.