First Free Story (1 of 3)Join Skift Pro
Hilton Worldwide priced its IPO at a range of $18 to $21 per share, meaning this largest ever public offering from a hotel chain could raise nearly $2.4 billion at the top end of the range.
Hilton Worldwide would sell 64.1 million shares, shareholders would sell another 48.7 million, or a total of about 11.5% of the company’s shares, according to Reuters.
Blackstone is not selling any of its share in Hilton Worldwide and would still control the company, which would trade on the New York Stock Exchange under the symbol HLT.
The proceeds from the offering predominantly would be used to pay down debt.