Dec 15 Trivago GmbH, the hotel search
platform that is majority owned by U.S. online travel firm
Expedia Inc, raised $287 million in an initial public
offering (IPO) on Thursday, far below expectations, according to
a person familiar with the matter.
The underwhelming pricing of the Düsseldorf, Germany-based
company's offering reflects some concerns among investors, in a
challenging year for technology IPOs, that it may be too reliant
on a few online travel companies for its revenue.
Trivago priced 26.1 million American depository shares (ADS)
on Thursday, fewer than its planned 28.5 million. At $11 an ADS,
the pricing was also below its indicated range of $13 and $15,
the source said, asking for anonymity become the details are not
yet public. Expedia and Trivago did not immediately respond to a
request for comment.
(Reporting by Lauren Hirsch; Editing by Sandra Maler)