Dutch Travel Company Travix Mulls IPO - Report
Dutch business group BCD is preparing for a public listing of its Internet-based budget ticket company Travix on the Amsterdam stock exchange within two to five years, the firm's president told the Dutch daily, Het Financieele Dagblad, on Monday.
The travel company, known for its Cheap Tickets and Vliedwinkel brands, sells airline tickets over the Internet and operates in 15 countries including the Netherlands, Germany and the United States, said BCD president John Fentener Van Vlissingen.
Travix had USD$1.2 billion in revenue in 2011 and expects it to grow to USD$1.7 billion in 2012, Van Vlissingen told the Dutch paper.
BCD owns a 51 percent stake in Travix, but that holding would be reduced to around 25 percent after the listing, Van Vlissingen said.
Other shareholders of Travix include ING and the management of Cheap Tickets, he added.