Travelport Worldwide, which operates the third-largest global distribution system for the travel industry, has priced its initial public offering at $16, eight years after being purchased by private equity firms, two people told the New York Times.
At that price, the company raised $480 million and achieved a valuation of $1.9 billion.
Its shares are expected to begin trading Thursday under the symbol TVPT on the New York Stock Exchange.
This is not the first time that Travelport, which is based in Atlanta, has sought to go public. The company was bought for $4.3 billion in 2006 by the Blackstone Group and Technology Crossover Ventures. It then planned an I.P.O. in London in 2010, but the deal was shelved amid an inhospitable market.
Travelport has rejiggered its finances since then, completing a transaction last year to pare down its debt. Blackstone gave up its controlling position through that deal, and two hedge funds received larger equity stakes. Blackstone, which is not selling shares in the I.P.O., will retain a 7 percent stake in the company.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Travelport Worldwide, TVPT, New York Stock Exchange, Atlanta, Blackstone Group, Technology Crossover Ventures, IPO, Initial Public Offering.