Sabre to trade on Nasdaq

Travel technology giant Sabre is looking to raise £540 million in its forthcoming stock market floatation in New York.

Papers filed with the US Securities and Exchange Commission on Friday revealed the company would trade on the Nasdaq as SABR. No date was set for the initial public offering (IPO).

Private equity investors Silver Lake Partners, Sovereign Co-Invest and TPG bought the company in 2007 for around £3 billion.

The group intends to sell 17% of its share in the floatation, which, depending on variable factors, could leave it with some 79%.

Based on an individual share value of £12.07 ($20) the company would be worth £3.2 billion ($5.25 billion).

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