American Express Global Business Travel has started trading as a public company on the New York Stock Exchange. Paul Abbott, Amex GBT’s Chief Executive Officer, said: “This marks a significant milestone in the business travel industry recovery and for Amex GBT. With strategic initiatives over the last few years, including complementary accretive acquisitions, product and technology enhancements and lasting cost reductions, the company is now positioned to win a larger portion of the $1.4 trillion business travel market.”
As a publicly traded company, it will have the flexibility to further accelerate growth strategy, the CEO added. “Trading as a public company follows years of work to strengthen our market leadership position. While listing our company is an achievement, it also marks the beginning of a new phase of growth paired with a focus on delivering long-term shareholder value as the world’s largest publicly traded B2B travel platform.”
Amex GBT has become a publicly traded company following the completion of its previously announced business combination with Apollo Strategic Growth Capital, which was approved by APSG shareholders on May 25, 2022, and closed on May 27, 2022.