Expedia-Supported Despegar Prices IPO at $26 Per Share
Photo Credit: On Wednesday, the "Expedia of Latin America" -- Despegar -- hopes to raise more than $330 million in an initial public offering on the New York Stock Exchange. New York Stock Exchange
Skift Take
Expedia would own 14 percent of online travel agency Despegar post-IPO. But contemplating the odds of an Expedia takeover is a "rompecabeza,” or a head-breaker.
Latin American online travel provider Despegar hopes to raise up to $332 million in an initial public offering on the New York Stock Exchange on Wednesday as it priced its shares at $26 a share. When it goes public, as expected Wednesday, it would list under the symbol DESP.
That's at the high end of the price range it had planned for. It had said it hoped to raise $100 million in a securities filing this summer, but that number was a placeholder.
The IPO proceeds would include see the company getting a majority of it while a portion would go to existing shareholders
Investors seek to sell 4.1 million shares.
New York-based investment firm Tiger Global Management, one of the largest investors in Brazilian sta
