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Travel technology firm Travelport has announced the start of its initial public offering (IPO) of all 30 million shares, as it aims to reduce outstanding debt levels.
The estimated price range for the IPO is $14 to $16 per share.
Travelport said it intends to use the net proceeds from the offering to “repay debt and certain other liabilities”.
In 2006 Travelport was acquired by Blackstone and Technology Crossover Ventures (TCV) for $4.3 billion.
The private equity-backed firm, which owns global distribution systems (GDSs) Galileo and Worldspan, then sought a London listing for the company in 2010, but suspended it after volatility in the financial markets.
Travelport intends to list its common stock under the symbol "TVPT" on the New York Stock Exchange.
Morgan Stanley and UBS Securities are the lead underwriters of the offering.