Hyatt Hotels Corp. (NYSE:H) opened Thursday at $27, above the $25 price established Wednesday evening. The stock is at $27.41 in late-morning trading. In the year's fourth-largest initial public offering, the private equity-backed hotel chain raised $950 million in gross proceeds. The successful debut came on the heels of bankers pulling three IPOs -- for PlainsCapital Corp., Aviv REIT Inc. and AEI -- after failing to find enough buyers for those deals. In the latest episode of our video series on IPOs, The Deal spoke with Scott Cutler, head of listings, Americas, NYSE Euronext (NYSE:NYX), about Hyatt's healthy IPO, the "discerning market" and what lies ahead next week, when Dollar General Corp. is expected to go public. Watch the video below or download it on iTunes. - Mary Kathleen Flynn
For The Deal's previous video interview with Scott Cutler, click here. Subscribers to The Deal Pipeline may read more about Hyatt's IPO here and Dollar General's here.
Nice opening day for one of the few IPOs this year.