Hilton Grand Vacations falls as Apollo carves stake in $300 mln secondary offering

Hilton Grand Vacations

13/08/2025 13:49

** Shares of timeshare operator Hilton Grand Vacations HGV.N down 5.3% at $42.60 premarket after secondary offering priced

    ** Orlando, Florida-based firm HGV late Tues announced 7 mln shares sold by
    entities managed by Apollo Global Management APO.N

    ** Offering priced at $43.15, thefly.com reports, a 4% discount to stock's last close

    ** Also, HGV to concurrently repurchase $40 mln worth of the offering shares from the underwriters

** Wells Fargo is lead bookrunner for the offering, joined by Deutsche Bank and Barclays

** Prior to the offering, Apollo owned ~26.3 mln shares for nearly 30% stake in HGV, per the prospectus

** With ~89 mln shares outstanding, HGV has $4 bln market cap

** HGV shares on Tues rose 3.4%, extending YTD gain to ~15%

    ** Of 9 analysts covering HGV, 5 rate "buy", 3 have "hold" and 1 has "sell" rating; median PT of $51 up from $42.50 a month ago, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))