28 October 2015
McCann FitzGerald advises Hostelworld Group plc on its initial public offering
We acted for Hostelworld Group plc on its initial public offering (IPO) and the admission to trading of its ordinary shares on the Main Securities Market of the Irish Stock Exchange and the main market for listed securities of the London Stock Exchange. The IPO valued the company at approximately €245 million. The IPO facilitated a disposal by Hellman & Friedman of its majority shareholding in the company. Following the IPO, Hellman & Friedman hold approximately 19.8% of the company’s issued ordinary share capital.
The Group, which was established in 1999, operates the world's leading hostel-focused online booking platform. The Group offers a simple and comprehensive online booking experience facilitating transactions between customers and suppliers of hostels and other forms of budget accommodation. The Group's business is focused on the hostels and budget accommodation sector of online travel. The Group owns and operates multiple customer websites and apps through Hostelworld, its flagship and leading brand, along with supporting brands Hostelbookers and Hostels.com.