• Sabre disappoints

Travel bookings specialist Sabre saw its IPO fall short of expectations, valuing the owner of Travelocity at USD4.14bn. Just over 39m shares were placed at USD16 each, short of the 44m it had expected would be sold at USD18-20 each, reports Reuters.

If underwriters take up their options, then buyout partners TPG Capital and Silver Lake Partners will see their stakes drop to 36% and 22.2% respectively. Shares will start trading later today on the US Nasdaq exchange, under the ticker symbol SABR.
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