Hyatt Hotels Corp. (H) on Wednesday said that it has priced its initial public offering of 38 million shares of Class A common stock at a price of $25.00 per share.
The company's Class A common stock will begin trading on the New York Stock Exchange under the symbol "H" on November 5, 2009. The offering will consist of 38 million shares of Class A common stock to be sold by certain existing stockholders.
Also, the company has granted the underwriters a 30-day option to purchase up to an additional 5,700,000 shares of Class A common stock. The company will not receive any of the proceeds from the sale of shares of Class A common stock by the selling stockholders.
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