Despegar.com (DESP) expects to raise $314 million in an initial public offering (IPO) on Wednesday, September 20th, IPO Scoop reports. The company will issue 12,800,000 shares at a price of $23.00-$26.00 per share.
In the last year, Despegar.com generated $465.7 million in revenue and $37.2 million in net income. Despegar.com has a market cap of $1.4 billion.
Morgan Stanley and Citigroup acted as the underwriters for the IPO and Itau BBA, UBS Investment Bank, Cowen and KeyBanc Capital Markets were co-managers.
Despegar.com provided the following description of their company for its IPO: “We are the leading online travel company in Latin America, known by our two brands, Despegar, our global brand, and Decolar, our Brazilian brand. We have a comprehensive product offering, including airline tickets, packages, hotels and other travel-related products, which enables consumers to find, compare, plan and purchase travel products easily through our marketplace. We provide our network of travel suppliers a technology platform for managing the distribution of their products and access to our users. “.
Despegar.com was founded in 1999 and has 2781 employees. The company is located at Juana Manso 999. Ciudad Autónoma de Buenos Aires, Argentina C1107CBR and can be reached via phone at +54 11 4894-3500.
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