Confirmed news this morning that Travelport has - true to the speculation reported yesterday - will list on the London Stock Exchange.
A copy of the list documents required for an IPO in London indicate Travelport intends to raise $2 billion through by issuing new shares to the markets.
Approximately $1.8 billion will be obtained via the global offer and a further $225 million from the Government of Singapore Investment Corporation (GIC).
Travelport had global revenue of $2.5 billion for the year ending December 2008, a decrease of $256 million on 2007.
The company says it hopes the issue will be completed in the first quarter of 2010.
The listing is the first in what could be a mammoth year for the giants of travel technology and the Global Distribution Systems, with all three (Travelport, Sabre and Amadeus) tipped for IPOs in 2010.
Travelport says the "near-term" prospects for the wider travel sector have been affected by the global economic crisis but indicators point to a strong recovery through this year and toward 2013.
The company also makes claim to its "unique geographic diversity" with what it says is the number one or number two position in all four major global markets as a GDS.
Chief executive Jeff Clarke says:
"Flotation marks an important step in our future development. Listing in London is the natural choice
given Travelport's corporate headquarters in Ireland and its GDS and GTA operational business
headquarters in the UK; it connects Travelport with one of the world's most international and
prestigious exchanges, ranking it alongside other notable global companies which lead in their
sectors. New investors will be able to share in our future and we are delighted by the support that
GIC has already shown by committing in December to make a significant investment."
"Flotation marks an important step in our future development. Listing in London is the natural choice given Travelport's corporate headquarters in Ireland and its GDS and GTA operational business headquarters in the UK; it connects Travelport with one of the world's most international and prestigious exchanges, ranking it alongside other notable global companies which lead in their sectors. New investors will be able to share in our future and we are delighted by the support that GIC has already shown by committing in December to make a significant investment."
Travelport currently operates in 160 countries and has around 5,300 employees.
Credit Suisse Securities, Deutsche Bank, UBS Investment Bank, Barclays Bank and Citigroup Global Markets are appointed to run the listing on behalf of Travelport.