Irish travel website Hostelworld has raised €180 million from its Initial Public Offering (IPO) on both the Dublin and London stock markets.
The company, which also owns Hostels. com and HostelBookers.com, began trading today on the Irish Stock Exchange’s main securities market.
Its initial offer price was set at 185 pence a share (€2.55), valuing it at about €245 million.
Shares in the company, which will mainly trade in London, last week jumped to 198.5 pence where it stayed for most of the day. It closed at 198 pence.
In Dublin, the shares were flat at €2.73.
Hostelworld is part of Web Reservations International. Its founder Ray Nolan sold the business to Hellman and Friedman in 2009 for €202.5 million.
The company specialises in offering online booking services and maintains a database with over 12,600 hostels in 170 countries.