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.)
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