Hyatt sells all 38 million shares in IPO




Hyatt Hotels Corp.’s initial public offering “priced within its expected range and shot up 12% on its debut” on the New York Stock Exchange,

the

Wall Street Journal

reported.

Hyatt’s stock finished at $28 a share, up from its offering price of $25. All 38 million shares in the offering were sold by the founder’s descendants, the Pritzker family, at a price within its expected range of $23 to $26 a share…. The hotel chain, the 10th-largest in the world based on number of rooms, was plagued with investor uncertainty about its offering in recent weeks, but analysts were in agreement that the company’s price range represented a value.

(Source:

Wall Street Journal,

Nov. 6, 2009.)

About the Author(s)

This is your 1st of 5 free articles this month.

Introductory offer: Unlimited digital access for $5/month
4
Articles Remaining
Already a subscriber? Please sign in here.

Related Articles

KEEP IT IN THE FAMILY

The Family Business newsletter. Weekly insight for family business leaders and owners to improve their family dynamics and their businesses.