trivago, an online global hotel search aggregator being spun out of Expedia, announced terms for its IPO on Monday.
The Düsseldorf, Germany-based company plans to raise $399 million by offering 28.5 million shares (37% insider) at a price range of $13 to $15. At the midpoint of the proposed range, trivago would command a fully diluted market value of $4.9 billion.
trivago was founded in 2005 and booked $735 million in sales for the 12 months ended September 30, 2016. It plans to list on the Nasdaq under the symbol TRVG. J.P. Morgan, Goldman Sachs, Morgan Stanley, Allen & Company, BofA Merrill Lynch, Citi and Deutsche Bank are the joint bookrunners on the deal.. It is expected to price during the week of .
The article Online hotel search aggregator trivago sets terms for $399 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.