Argentina
News

Despegar.com stock takes off with New York IPO

Bnamericas Published: Thursday, September 21, 2017

Latin American online travel company Despegar.com saw its stock price rise 22.2% from the initial US$26 per share priced by the company following its debut on the New York Stock Exchange.

The Argentina-based company, which offers a broad suite of airfare and hotel bookings and other travel packages, saw its stock close at US$31.78 on Wednesday. The company offered 12,770,000 ordinary shares, raising US$332mn, the Financial Times reported.

The IPO will close on September 22. Despegar.com has granted a 30-day option to purchase an additional 1.91mn ordinary shares at the IPO price.

The IPO was 13.4 times oversubscribed, Despegar.com CEO Damian Scokin was quoted as saying by Reuters.

Over the 12-month period ending in June 2017, Despegar had 140mn unique visitors to its platform.

Prior to the IPO, Expedia owned a 16.4% stake in Despegar.

Morgan Stanley, Citigroup, Itau BBA, Cowen, UBS and KeyBanc Capital Markets are the underwriters of the IPO.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: ICT

Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: ICT (Argentina)

Get critical information about thousands of ICT companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Google Argentina
  • Argentine subsidiary of multinational Google, a technology company, which maintains an index of websites and other online content for users, advertisers, Google network members,...
  • Company: Wilobank S.A.  (Wilobank)
  • Wilobank S.A., incorporated in the year 2017 under the name Banco Wanap S.A., is the first 100% digital, online Argentinean bank, which operates the entire day and every day thr...
  • Company: Honeywell SAIC  (Honeywell Argentina)
  • Honeywell SAIC or Honeywell Argentina, is a branch of US Honeywell International Inc. The firm has been operating in the country since 1967 providing support for several industr...
  • Company: Tesam Argentina S.A.  (Tesacom)
  • Argentine remote telecom solutions provider Tesacom offers design, integration, implementation and maintenance services for governments, defense and humanitarian organizations, ...
  • Company: Logicalis S.A.  (Logicalis Argentina)
  • Logicalis Argentina, part of the UK-based Logicalis Group, is a regional provider of integrated information and communications technology (ICT) solutions and services to the cor...
  • Company: Telecom Personal S.A.  (Telecom Personal)
  • Telecom Personal S.A., founded in 1994 and headquartered in Buenos Aires, is a firm of the telecommunication group Telecom providing mobile communication services in Argentina. ...