JSM Financial: Travel reservations group Amadeus set for IPO.

April 28, 2010 - PRLog -- Travel reservation group Amadeus has set the share price for its initial public offering, JSM Financial has been informed, at €11 ($14.5), slightly higher than the middle of the price range of between €9.2 and €12.2 initially set by the firm. Amadeus received orders for over four times the amount of shares on offer.

The overwhelming success of the listing makes it Europe’s largest IPO for 2010 so far and comes shortly after the firm's rival Travelport’s failed $1.8 billion attempted listing on the London stock exchange.

JSM Financial sources indicate that the IPO consisted of 36.9 million shares sold by the private equity groups BC Partners and Cinven  as well as both Air France and Lufthansa.

The deal leaves the private equity firms a combined holding of 34.6%, signifying a drop of shareholding of over 50%. Goldman Sachs, JP Morgan and Morgan Stanley all had a hand in advising on the listing.

The firm is also believed to be issuing another 82.7 million new shares JSM Financial has learned, which will raise around $1.2 million which Amadeus intends to use to reduce its debt.

According to a banking source with knowledge of the matter high quality investment funds mainly from the U.K., France and the U.S. dominate the book, adding that the deal could have been priced higher but lead managers rather chose to leave some room for when the shares begin trading.

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