Hilton expects to raise up to $2.37B in IPO

Hotel operator Hilton Worldwide Inc, controlled by private equity firm Blackstone Group LP, said its initial public offering would raise up to $2.37 billion, valuing the company at about $20.7 billion, according to Fox News.

Hilton, which has not yet set a launch date for its IPO, says it would price 112.8 million shares at between $18 and $21 per share.

Blackstone, which is not directly selling any of its shares in the offering, will hold 76.2 percent of Hilton after the IPO.

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