La Quinta Holdings expects to raise as much as $898.4 million through its initial public offering, according to an amended filing to the U.S. Securities and Exchange Commission on Thursday.
The midprice hotel chain, backed by Blackstone Group, plans to offer 37.2 million shares, along with 5.58 million additional shares available to underwriters, priced between $18 and $21.
Blackstone still will be the majority owner of La Quinta following the IPO.
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Source: Business Travel News