Hudson, which operates airport concessions and duty-free stores across North America, announced terms for its IPO on Friday.
The Middlesex, United Kingdom-based company plans to raise $788 million by offering 39.4 million shares (100% insider) at a price range of $19 to $21. At the midpoint of the proposed range, Hudson would command a fully diluted market value of $1.9 billion.
Hudson was founded in 1987 and booked $1.8 billion in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol HUD. Credit Suisse, Morgan Stanley, UBS Investment Bank, BofA Merrill Lynch, Goldman Sachs, Santander, BBVA, BNP Paribas, Credit Agricole CIB, HSBC Corporation, Natixis, Raiffeisen Bank and UniCredit Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of January 29, 2018.
