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Hyatt to place Goldman Sachs-underwritten IPO

Nov 05, 2009 (M2 EQUITYBITES via COMTEX) --

Companies: Deutsche Bank AG (DB), Goldman Sachs Group, Inc. (GS), J.P. Morgan Chase & Co. (JPM)

5 November 2009 - Luxury hotels and resorts operator Hyatt said on Wednesday it has picked US investment bank Goldman Sachs (NYSE:GS) as the sole book-running manager and lead-managing agent of its stock offering.

Deutsche Bank Securities and JP Morgan Securities, the non-banking arms of Deutsche Bank (ETR:DBK) and US financial services firm JP Morgan (NYSE:JPM), will act as joint lead managers of the transaction.

The chain, majority-owned by the wealthy Pritzker family of Chicago, will offer 38 million of its class A common shares at USD25.00 (EUR16.84) apiece.

The underwriters can buy up to 5.7 million extra stocks to cover over-allotment.

Trading in the company shares starts today. 

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News Provided by COMTEX

Companies: Deutsche Bank AG (DB), Goldman Sachs Group, Inc. (GS), J.P. Morgan Chase & Co. (JPM)


Related terms: bank, book, family, ipo, nyse, securities

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