Sabre files for $100 million IPO

By Kate Rice

Sabre on Tuesday filed a registration statement with the U.S. Securities and Exchange Commission, proposing an initial public offering for up to $100 million.

Sabre has not yet set a date for the IPO.

An IPO has been much anticipated. Sam Gilliland, Sabre’s former CEO, had started talking about an IPO as long as three years ago.

Sabre has been a privately held company since 2007. Its owners are private equity firms TPG Capital and Silver Lake Partners.

According to the preliminary prospectus, the company's net loss was $127.3 million for the first three quarters of 2013.

Sabre reported net losses the three prior years: $611.4 million in 2012, $66.1 million in 2011 and $268.9 million in 2010.

The company's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the first three quarters of 2013 was $577.4 million, an 8% decrease from the same period a year earlier. Adjusted EBITDA was $784.6 million in 2012, $724.7 million in 2011 and $697.6 million in 2010.


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