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Hilton Worldwide plans to raise $1.25B from IPO
Hotel operator Hilton Worldwide Holdings Inc. plans to raise $1.25 billion from an initial public offering of its common stock.
The company did not disclose in its filing Thursday how many shares would be offered or the anticipated price range.
The company said it plans to use the offering's net proceeds to pay back some of its debt. Any remaining funds will be used for general corporate purposes.
For the 12 month period ended in June, Hilton reported net income of $427 million and revenue of $9.4 billion.
More at http://www.themonitor.com/business/article_f538669f-aac4-595e-8611-2188fbd0bcfd.html .
[font color=green]Let me guess--Paris Hilton maxed out her credit cards?[/font] 