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Hostelworld Group plc, the world’s leading hostel-focused online booking platform, has raised over €180m from its Initial Public Offering (IPO) on both the Irish Stock Exchange (ISE) and the London Stock Exchange. It began trading today on the ISE’s Main Securities Market with a market capitalisation of €245m.
The company specialises in offering online booking services, maintaining a database with over 12,600 hostels and approximately 21,000 other forms of budget accommodation in more than 170 countries (information correct as of 31 August 2015).
It was founded in 1999 and owns and operates multiple customer websites and mobile and tablet apps through Hostelworld, its flagship brand, Hostelbookers and Hostels.com.
Deirdre Somers, ISE Chief Executive, said:
“We are delighted to welcome Hostelworld, an Irish headquartered company operating globally in more than 170 countries, to the ISE’s Main Securities Market. It is great to see a company so connected with the technology and tourism sectors, where Ireland has such a strong track record, come to the market. We extend our congratulations to them on a successful IPO and wish them continued growth and success as a publicly-quoted company.
Feargal Mooney, Hostelworld Chief Executive, said:
“Our IPO is a significant milestone in Hostelworld’s development and we welcome all new shareholders to the Group. Listing on the ISE offers us access to global investors and will facilitate our ambitious plans to grow and generate value for our shareholders.”
Hostelworld will trade on the MSM using the ticker HSW.
