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CATEX plans November return
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Hospitality Employees Denied Rights
Third Level Courses for Hospitality Workers

€245m value on Hostelworld

Hostelworld, the Irish travel website, has announced final details of its stock market floatation with an IPO valuing the company at €245 million. The shares have begun conditional trading this morning, rising some 5 per cent above the issue price.

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It has priced 71,718,432 ordinary shares at 185 pence per share. The dual flotation will see stock trade on both the Dublin and London markets.
Today’s offer is expected to raise €173.7 million in net proceeds and is believed to have been over-subscribed. The US private equity firm Hellman & Friedman will immediately hold just under 19.8 per cent of the stock.
 
Hostelworld group comes to the market debt free and cash generative.
Its founder Ray Nolan sold the business to Hellman & Friedman in 2009 for €202.5 million. Mr Nolan ultimately realised €100 million from the deal.
 

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