Online travel agency Despegar.com, which is backed by Tiger Global and General Atlantic, began trading today on the New York Stock Exchange (NYSE).
(Press Release) Despegar.com, Corp. (“Despegar”), led by CEO Damian Scokin, today announced the pricing of its initial public offering of 12,770,000 ordinary shares of the company at a public offering price of $26.00 per share, before underwriting discounts. The shares are expected to begin trading on the New York Stock Exchange on September 20, 2017, under the ticker symbol “DESP.” The offering is expected to close on September 22, 2017, subject to customary closing conditions. In addition, Despegar has granted the underwriters a 30-day option to purchase up to an additional 1,915,500 ordinary shares of the company at the initial public offering price, less the underwriting discount.
Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are acting as joint lead book-running managers. Itau BBA USA Securities, Inc. and UBS Securities LLC are acting as joint bookrunners. Cowen and Company LLC and KeyBanc Capital Markets Inc. are acting as co-managers.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on September 19, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (tel: 800-831-9146).