Despegar launches IPO on NYSE
September, 2017 - Buenos Aires, Argentina
Buenos Aires, September 26, 2017. Despegar raise US$382 million in an initial public offering (IPO) on the New York Stock Exchange on September 20, under the symbol "DESP". Beccar Varela in Argentina, TozziniFreire Advogados in Brazil, Conyers Dill & Pearman in the British Virgin Islands and Simpson Thacher & Bartlett LLP in the United States have advised the company on the launch of its initial public offering on the New York Stock Exchange. Despegar offered 12,777,000 million shares at US$26 each, the ceiling of its price range. The offering was 13.4 times oversubscribed.
In this IPO, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Itau BBA USA Securities, Inc. and UBS Securities LLC, Cowen and Company, LLC and KeyBanc Capital Markets Inc. acted as underwriters.
Despegar will use the net proceeds from this offering for general corporate purposes, including potential acquisitions or other strategic opportunities in the future.
Despegar is a leading online travel company in Latin America, known by its two brands, Despegar (global) and Decolar (Brazilian). It operates across 20 markets and offers the broadest suite of travel products in the region, including airfare, hotel bookings, travel packages, among others.
Counsel to Despegar
In-house counsels: Juan Pablo Alvarado (General Counsel) and Verónica Schilling (Legal manager).
In Argentina
Beccar Varela: partners Ramón Moyano and Alejandro Poletto, and associates Pedro Silvestri and Paula Casaux Alsina in Buenos Aires.
In Brazil
TozziniFreire Advogados: partners Alexei Bonamin and Marcela Ejnisman, and associates Mariane Huhtala and Laís Monte Claudio in São Paulo.
In the United States of America
Simpson Thacher & Bartlett LLP: partner Juan Méndez, counsel Kirsten Harmon and associate Natalia Parmigiani Merlussi in New York.
Counsel to Underwriters
In Argentina
Marval, O’Farrell y Mairal: partner Hernán Slemenson and associates Fernanda Reines, Jazmine Daruich and Giancarlo Reanda in Buenos Aires.
In Brazil
Dias Carneiro Advogados: partner Eduardo Zilberberg, counsels Paulo Leme and Juan Manuel Calonge Mendez, and associates Carolina Sequeira Ponzini and Juliana Pimentel in São Paulo.
In the United States of America
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP: partner Heidi Mayon and associate Colin Conklin in San Francisco, and partners Ward Breeze and Hozefa Botee in New York.
