Hotel operator Hilton Worldwide Inc, controlled by private equity firm Blackstone Group LP, said its initial public offering would raise up to $2.37 billion, valuing the company at about $20.7 billion.Hilton said it expected to price the offering of 112.8 million shares at between $18 and $21 per share, according to a filing with the U.S. Securities and Exchange Commission on Monday. ()Hilton is selling 64.1 million shares in the offering, while the selling shareholder will offer 48.7 million.The company, which did not say when it would launch the IPO, could raise $2.72 billion if underwriters exercise their rights to purchase another 16.9 million shares.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX remained unchanged at $28.58. In the past year, the shares have traded as low as $14.55 and as high as $28.73. On average, 4740570 shares of BX exchange hands on a given day and today's volume is recorded at 0.
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