Hudson Ltd. (HUD) IPO Opens 6% Lower

Today's IPO for Hudson Ltd. (NYSE: HUD) opened for trading at $17.95 after pricing its initial public offering of 39,417,765 Class A common shares at a public offering price of $19.00 per share.

All of the Class A common shares will be sold by Dufry International AG, a wholly-owned subsidiary of Dufry AG, and Hudson Group will not receive any proceeds from the offering. Dufry International AG has granted the underwriters a 30-day option to purchase up to an additional 5,912,664 Class A common shares at the initial offering price, less the underwriting discount.

Credit Suisse, Morgan Stanley and UBS Investment Bank are serving as lead bookrunners and as representatives of the underwriters for the offering. BofA Merrill Lynch and Goldman Sachs & Co. LLC are also serving as bookrunners for the offering. Banco Santander, BBVA, BNP PARIBAS, Credit Agricole CIB, HSBC, Natixis, Raiffeisen Centrobank and UniCredit Capital Markets are serving as co-managers for the offering.

Hudson Group, one of the largest travel retailers in North America, is committed to enhancing the travel experience for over 300,000 travelers every day in the continental United States and Canada. Anchored by our iconic Hudson, Hudson News and Hudson Bookseller brands, Hudson Group operates nearly 1,000 duty-paid and duty-free stores in 88 locations, including airports, commuter terminals, hotels and some of the most visited landmarks and tourist destinations in the world. Our wide range of store concepts include travel essentials and convenience stores, bookstores, duty-free shops, branded specialty stores, electronics stores, and quick-service food and beverage outlets.

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