Posted: Apr 18, 2014 5:36 AM
Updated: Apr 18, 2014 5:36 AM
DALLAS (AP) Shares of Sabre Corp. ended higher but the provider of technology services to the travel industry raised less money than it had projected in its initial public offering.
The Southlake-based company had offered fewer shares than planned Thursday and lowered the opening price. Sabre's IPO came as the hot market for startup stocks shows signs of cooling.
CEO Thomas Klein says weakness in the tech sector played a role in the company's decision to trim the IPO, but there was no consideration of postponing the offering.
Private-equity owners TPG and Silver Lake will keep about 80 percent of the company, which the IPO valued at around $4 billion.
The shares, trading on Nasdaq under the ticker symbol "SABR," rose 50 cents to close Thursday at $16.50.