Hilton Worldwide Inc, the world's largest hotel operator, raised roughly $2.34 billion in its IPO on Wednesday after pricing shares toward the high end of the range.Backed by private equity and real estate firm Blackstone Group LP, Hilton priced its shares at $20. The company and existing shareholders sold 117.6 million shares. They had offered 112.8 million shares at an expected range of $18 to $21.The Blackstone funds that bought Hilton are not selling any shares in the offering. Hilton Worldwide shares will begin trading on the New York Stock Exchange on Thursday, under the ticker symbol "HLT."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 0.21% or $-0.06/share to $29.15. In the past year, the shares have traded as low as $14.60 and as high as $29.48. On average, 4886430 shares of BX exchange hands on a given day and today's volume is recorded at 4830350.
Source
