Expedia picks banks for Trivago float: sources
Reuters
Published Sep 15, 2016 01:49PM ET
Updated Sep 15, 2016 02:00PM ET
Expedia picks banks for Trivago float: sources
FRANKFURT (Reuters) - Online travel firm Expedia (NASDAQ:EXPE) has picked advisors for the planned stock market listing of its Trivago travel search site, sources familiar with the matter said.
Expedia has tasked JP Morgan, Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) as global coordinators for the initial public offering (IPO) on the U.S.-based Nasdaq, which will likely take place this year or early 2017, the sources said.
Citi, Bank of America (NYSE:BAC) and Deutsche Bank (DE:DBKGn) are acting as bookrunners, the sources said.
The banks declined to comment or were not immediately available for comment. Expedia was not immediately available to comment.
Expedia Chief Executive Dara Khosrowshahi told investors in July that management and Trivago's founding team had agreed to an IPO to value Trivago as a stand-alone company.
It interviewed banks for potential roles in the IPO earlier this month.
The hotel search platform was founded in 2005 in Duesseldorf, where it remains headquartered, and is one of Germany's most successful start-ups of the past decade.
Expedia said in July that on a trailing 12-month basis Trivago had generated revenue of more than $660 million and that revenue had grown sixfold since it acquired Trivago in 2012.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.