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Hilton may raise US$2.4 bil. to become 1 of year's biggest IPOs

NEW YORK--Hilton Worldwide Holdings Inc. said Monday that it could raise as much as US$2.37 billion, making it one of the year's biggest IPOs.

The hotel operator said in a regulatory filing that the offering of 112.8 million shares is expected to price between US$18 and US$21 each. Hilton is offering about 64.1 million shares, and selling shareholders are offering 48.7 million shares. Selling additional shares to banks could put the IPO's proceeds at as much as US$2.72 billion.

The initial public offering comes as the hotel industry has started to recover over the past two years from its battering during the recession and as the IPO market heats up. Roughly 200 companies have gone public in 2013 as markets hit record highs.

If it prices above the middle of the expected range, Hilton will have the second- or third-largest IPO this year in the U.S., surpassing Twitter's US$2.1 billion haul last month. It would trail oil and gas pipeline company Plains GP Holdings LP, which raised US$2.9 billion in October.

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