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Thursday, December 12, 2013

Hilton Worldwide Holdings shares climb 9 percent in IPO, (NYSE: BX)

Shares of Hilton Worldwide Holdings Inc , the world's largest hotel operator, rose 7 percent in their New York Stock Exchange debut on Thursday.The shares opened at $21.30 after Blackstone Group LP raised more than $2.3 billion in the year's second-biggest IPO.The shares were priced at $20 Wednesday night, within the expected range of $18 to $21. Hilton and existing shareholders sold 117.6 million shares in the IPO.Blackstone took Hilton private in 2007 for $26.7 billion, including debt, in one of the largest leveraged buyouts before the 2008 global financial crisis.

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 1.06% or $-0.31/share to $28.84. In the past year, the shares have traded as low as $14.60 and as high as $29.69. On average, 4882890 shares of BX exchange hands on a given day and today's volume is recorded at 2859658.