TRVG is a German hotel search firm. It is best known for its aggressive TV commercials in the United States. The company is conducting an IPO. This is a call to buy up to 40% of the full core positon size in the IPO. As a full disclosure, EXPE owns 61.6% equity stake in TRVG. There is an existing long position in the portfolio in EXPE bought with an average price of $47.00, EXPE is trading at $116.93.
Consider immediately putting stops at the IPO price as soon as the IPO price is known, it should be later today.
