News

Sabre IPO expected in April with valuation of $4.9-$5.0 Billion.

Sabre's IPO looks set for launch around 16 April 2014 based on 2013 financials. Silverlake and Texas Pacific Group will reduce their shareholding and Sabre will pay down a proportion of their debt.

Published: 08/04/2014

Sabre Corp., which controls online travel site Travelocity, unveiled more terms of its planned initial public offering and said it is seeking a valuation of up to $4.91 billion.

The company said in a regulatory filing it plans to offer 44.7 million shares at $18 to $20 a share in its offering. Sabre expects to have more than 245.3 million common shares outstanding after the IPO.

Private-equity firms TPG and Silver Lake, which bought the company in 2007, will own about 79% of the company's common stock after the offering, or 77% if the underwriters' option to buy additional stock is fully exercised.

Sabre said it estimates its net proceeds from the deal would be about $797 million. It expects to use the proceeds to repay debt, pay a fee and redeem Series A preferred stock.

The company—which describes itself as a technology solutions provider to the travel and tourism industry—said it expects to pay quarterly dividends. The first such payment of nine cents a share is expected in the third quarter this year, the company said.

Sabre said it intends to list on the Nasdaq under the symbol "SABR."

Source: http://online.wsj.com/news/articles/SB10001424052702303532704579481473158632790