Travelport plans US IPO

Travelport has announced it is planning an initial public offering (IPO) in the US to reduce the company’s debts.

Travelport has announced it is planning an initial public offering (IPO) in the US to reduce the company’s debts.

The number of shares to be offered and price range has not yet been determined, the company said in a statement.

Reports suggested the Atlanta-based company could be looking to raise $500 million

A registration document has been filed with the US Securities and Exchange Commission.

Morgan Stanley, UBS Investment Bank, Credit Suisse and Deutsche Bank Securities are acting as joint book-running managers for the offering.

Blackstone acquired Travelport in 2006 for $4.3 billion, and sought a London listing for the booking platform in 2010. The IPO was scrapped because of poor market conditions.