IPO shows British Virgin Islands open for business after Hurricane Irma

Global offshore law firm Conyers has advised the Latin American online travel company Despegar on its initial public offering on the New York Stock Exchange just weeks after the British Virgin Island (BVI) was devastated by Hurricane Irma.

The listing, which was 13.4 times oversubscribed and raised US$382 million, makes Despegar one of the most valuable publicly listed BVI companies, with a market capitalisation of about US$2.2 billion.

Despegar, headquartered in Buenos Aires, is the leading online travel company in Latin America.

Anton Goldstein, a partner in Conyers BVI office, says: “We are proud that such a landmark transaction has closed just weeks after the BVI was severely impacted by Hurricane Irma.”

“The closing of this IPO underscores the fact that the BVI is open for business and continues to be a leading offshore centre for major corporate transactions.”