Hyatt underwriters buy additional 5.7M shares
CHICAGO (AP) - Hyatt Hotels Corp. said Friday that underwriters
of its initial public offering have exercised their option to buy
5.7 million more shares of common stock at $25 apiece.
Hyatt, which raised $950 million in its IPO this week, expects
to get net proceeds of about $127.3 million from the sale of the
shares, after the underwriting discount and expenses. The company,
based in Chicago, plans to use the proceeds for working capital and
other general expenses.
The bookrunning manager is Goldman Sachs & Co. Deutsche Bank
Securities Inc. and JPMorgan Securities Inc. are lead managers.
NYSE:JPM Updated: 16:00 ET 42.46 -0.09 |
Hyatt shares closed Friday at $28.
11/06/09 20:04
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