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Blackstone’s Travelport files for $100m IPO

5 Jun 2014

planePrivate equity-backed airline ticketing business Travelport Worldwide is looking to raise $100m via an IPO, according to a regulatory filing.

Morgan Stanley, UBS Securities, Credit Suisse and Deutsche Bank are acting as underwriters for the IPO, the filing showed.

The company, which is backed by Blackstone, said it will trade under the symbol TVPT and use the IPO proceeds to reduce its debt pile that currently stands on around $3.4bn.

Travelport previously planned a London IPO that would have valued the company at £1.2bn.

In the first quarter the company saw its losses widen to $27m from $22m a year yearlier despite f our per cent increase in revenues to $572m.

Earlier this month AltAssets reported that Blackstone had raised $3.53bn from 60 LPs for its latest Asian real estate fund.

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