| Travelport sets price range on $1.78 billion IPO |
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| Tuesday, 02 February 2010 |
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Daisy Ku Reuters   Travel service company Travelport Inc on Monday announced a price range for its $1.78 billion London listing, valuing the company's equity at between $3.05 billion and $3.45 billion.The mid-point of the equity valuation is above the entry level of Government of Singapore Investment Corp. (GIC), which has agreed to buy $225 million worth of Travelport's shares at a valuation of $3.13 billion. GIC will hold 7.19 percent in Travelport upon completion of the initial public offering. Blackstone bought Travelport from U.S. conglomerate Cedent in 2006 and currently owns 70 percent. Travelport is offering 382.54 million shares and 528.27 million shares at between 210 pence and 290 pence each ($3.36-$4.64), representing 51 percent to 58 percent of its enlarged share capital. Bookbuilding started on Monday and will close on February 11. UBS is the sole sponsor for the deal, while Credit Suisse, Deutsche Bank, Barclays Capital and Citigroup are joint bookrunners. http://www.reuters.com/article/idUSTRE6101HJ20100201 Share this article:
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