Hilton Wordwide has raised $2.35 billion via a share sell, which will allow the group to pay down debt. The sale represents the second-largest listing in the US in 2013.
The US hotel giant sold 117.6 million shares at $20 each in the offering on the New York Stock Exchange, which marks Hilton’s return to a public listing after its acquisition by Blackstone Group for $26.7 billion in October 2007.
City analysts suggest the IPO is well-timed, with global markets showing signs of recovery, giving the travel industry a boost. A surge in room rates and occupancy levels means the amount raised by the flotation is almost double the $1.25 billion Hilton had indicated it would raise in September.
