Orbitz Reports on Share Flotation

Orbitz
has announced that its forthcoming share flotation on the stock market would offer four million shares to the public to raise $82.2m.In addition, Orbitz stockholders will sell an extra seven million shares.

Orbitz filed for an IPO in May 2002 but had to delay it due to an antitrust investigation. The Department of Justice concluded in July that Orbitz had not reduced competition nor harmed airline consumers.

 

Under the IPO, Orbitz will offer 4m class A common shares and raise about $92m, while the stockholders will sell 7m shares and raise about $168m.

 

ADVERTISEMENT

 


——-