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Southlake Style

Sabre Prices IPO at $16 Per Share

Apr 18, 2014 10:15AM ● By 16560

Technology solutions provider of online travel Sabre Corp. — also the owner of Travelocity — priced its initial public offering of 39.2 million shares of common stock at $16 per share. 

The shares are trading on the NASDAQ Global Select Mark under the symbol “SABR.” 

The underwriters of the offering have a 30-day option to purchase up to an additional 5.88 million shares of stock from Sabre at the IPO price, underwriting discounts and commissions, to cover over-allotments, if any apply.

The joint book runners for this offering include Morgan Stanley, Goldman Sachs & Co., Bank of America Merrill Lynch and Deutsche Bank.

Additionally, the co-mangers for this offering include Evercore, Jefferies, TPG Capital DB, Cowen and Company, Sanford C. Bernstein, William Blaire, Mizuho Securities, Natixis and The Williams Capital Group. 

In January, Sabre filed with regulators to raise up to $100 million in an IPO of its common stock.

The Southlake-based company is the largest global distribution systems provider in North America for airplane bookings.

Sabre employs approximately 10,000 people in 60 countries, with technology developed in six facilities located across four continents.