NEW YORK (Reuters) – Shares of Hyatt Hotels Corp will price on Wednesday and are set to start trading on Nov. 5, a day earlier than previously planned, according to some of the company’s underwriters.
The company had earlier intended for the pricing of shares for its initial public offering to take place Thursday and for the shares to start trading Nov. 6.
Hyatt plans to sell 38 million shares for between $23 and $26 each under the ticker “H” (H.N) on the New York Stock Exchange. The full proceeds of the $931 million IPO will go to the Pritzker family, which controls the company.
If the IPO’s underwriters exercised an option to buy another 5.7 million shares, those proceeds would go to the Chicago-based hotel company. (Reporting by Deepa Seetharaman, editing by Gerald E. McCormick)