Hostelworld IPO values firm at GBP 176.8 million
Hostelworld Group has priced its initial public offering to trade on the London Stock Exchange main market at 185 p per share giving it a market capitalisation of GBP 176.8 million.
The offer of 71,718,432 ordinary shares is expected to raise GBP 125.4 million of net proceeds.
Chief executive Feargal Mooney said: “We are delighted to have reached this milestone in Hostelworld’s development and welcome all new shareholders. The IPO will further raise our already strong brand awareness in our growing and worldwide marketplace, enhance the Group’s profile with investors, business partners and customers and enable access, should it be required, to capital markets to support future growth. We look forward with confidence to our future as a public company.”
Source: The Telegraph