Beyond Tampa Bay: Hilton could raise $2.37B in IPO

Bruce Lee fans who covet the yellow jumpsuit that the martial arts legend wore onscreen will get a chance to bid for it at a Hong Kong auction Thursday. It's part of a collection of 14 items, including clothing and props, going on the block. Lee wore the suit in Game of Death. Lee died in 1973, before the movie was finished. An incomplete version was released that year, followed by a version in 1978 cobbled together with footage filmed after his death. Spink auction house estimates the suit will fetch $32,250 to $38,700.

BlackBerry's interim chief executive said Monday that reports of the death of the company "are greatly exaggerated." John Chen, the former CEO at Sybase, said in a letter to customers that BlackBerry is returning to its roots, refocusing on delivering devices and services to business users.

U.S. manufacturing grew in November at the fastest pace in 2½ years as factories ramped up production, stepped up hiring and received orders at a healthy clip. The Institute for Supply Management said Monday that its index of manufacturing activity rose to 57.3. That was up from 56.4 in October and was the highest since April 2011. A reading above 50 signals growth.

Hilton Worldwide Holdings Inc. said Monday that it could raise as much as $2.37 billion, making it one of the year's biggest IPOs. The hotel operator said in a regulatory filing that the offering of 112.8 million shares is expected to price between $18 and $21 each. It is offering about 64.1 million shares, and selling shareholders are offering 48.7 million shares. Selling additional shares to banks could put the IPO's proceeds at as much as $2.72 billion.

The BOTTOM LINE: Lloyds Banking group names Norman Blackwell as new chairman. ... Dow Chemical will look to separate about 40 manufacturing plants from its business. ... Drugmaker Forest Laboratories says it plans to cut jobs as part of a plan to trim $500M in costs over the next two years.

Beyond Tampa Bay: Hilton could raise $2.37B in IPO 12/02/13 [Last modified: Monday, December 2, 2013 7:49pm]

© 2014 Tampa Bay Times


Join the discussion: Click to view comments, add yours