The Canadian PressDecember 11, 2013 19:31
NEW YORK, N.Y. - Hilton is back, and in a big way.
The hotelier, which went private in 2007, on Wednesday priced its initial public offering at $20 per share. The company and a shareholder sold 117.6 million shares, about 5 million more than originally planned, for a total take of $2.35 billion.
The payoff surpasses the $2.1 billion generated by Twitter's IPO last month. If the banks involved buy the extra shares in the deal — the overallotment — it will be the second-biggest IPO of the year, behind Plains GP Holdings LP at $2.9 billion.