Press releases | Corporate and M&A, Private Equity & Financial Sponsors, Tax | 28 Oct 2015

£177 million IPO for Hostelworld

Overview

Travers Smith LLP has advised Hostelworld Group plc, the world’s leading hostel-focused online booking platform, on its £177 million IPO.

Hostelworld Group, which was established in 1999 offers a comprehensive online booking experience facilitating transactions between customers and suppliers of hostels and other forms of budget accommodation. The Group’s business is focused on the hostels and budget accommodation sector of online travel.

Hostelworld is seeking a listing on the premium listing segment of the Official List of the Financial Conduct Authority, and the secondary listing segment of the Official List of the Irish Stock Exchange, and to trading on the main market for listed securities of the London Stock Exchange and the Irish Stock Exchange’s Main Securities Market.

The IPO will further enhance Hostelworld’s profile with investors, business partners and customers and enable access to capital markets to support future growth.

The Travers Smith team, which advised Hostelworld Group, was led by corporate finance partner Adrian West and head of private equity Paul Dolman. They were supported by a team of corporate associates including Brent Sanders, Catherine Shennan, Asma Rashid, Katie McGarry and Aman Dillon.  Partner Kathleen Russ advised on the tax elements of the transaction.

Numis Securities Limited acted as UK Sponsor, Global Coordinator and Joint Bookrunner and J&E Davy acted as Irish Sponsor and Joint Bookrunner.

Numis Securities Limited and J&E Davy were advised by Herbert Smith Freehills and McCann Fitzgerald advised Hostelworld on the Irish aspects of the transaction.