Travelport Worldwide prices IPO at $16, the high end of the range

Travelport Worldwide, which operates the third-largest global distribution system for the travel industry, raised $480 million by offering 30 million shares at $16, the high end of the $14 to $16 range. At that price, the company commands a market value of $1.9 billion. Travelport Worldwide plans to list on the NYSE under the symbol TVPT. Morgan Stanley, UBS Investment Bank, Credit Suisse and Deutsche Bank acted as lead managers on the deal.

For a discussion of Travelport's business, other airline-industry IPOs and recent financials, view our news alert when Travelport set terms.