La Quinta prices IPO at $17, below the range

By Renaissance Capital,

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La Quinta Holdings, a Blackstone-backed select-service hotel operator in the US with 830 locations, raised $650 million by offering 38.3 million shares at $17, below the range of $18 to $21. La Quinta plans to list on the NYSE under the symbol LQ. La Quinta Holdings initially filed confidentially on 12/23/2013. J.P. Morgan, Morgan Stanley, BofA Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs and Wells Fargo acted as lead managers on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: LQ

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