Despegar.com (DESP) IPO Opens 12% Higher

Today's IPO for Despegar.com, Corp. (NYSE; DESP) opened for trading at $29 after pricing its initial public offering of 12,770,000 ordinary shares of the company at a public offering price of $26.00 per share.

In addition, Despegar has granted the underwriters a 30-day option to purchase up to an additional 1,915,500 ordinary shares of the company at the initial public offering price, less the underwriting discount.

Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are acting as joint lead book-running managers. Itau BBA USA Securities, Inc. and UBS Securities LLC are acting as joint bookrunners. Cowen and Company LLC and KeyBanc Capital Markets Inc. are acting as co-managers.

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