Sabre owns online travel company Travelocity, which competes with Expedia and Priceline. It also sells software and services to link airlines, hotels and cruise lines with travel agencies to buy and sell tickets. In that business, it competes with Atlanta-based Travelport and Spain's Amadeus.
The Southlake, Texas-based company said that it raised $588 million after underwriting expenses, pricing 39.2 million shares at $16 each. The banks managing the deal have options to buy more shares. On April 4, Sabre indicated that it expected to offer 44.7 million shares at between $18 and $20 each.
Sabre has lost money each of the last five years. Last year, it posted a loss after paying preferred dividends of $137.2 million on revenue of $3.05 billion. Revenue was up nearly 3 percent from 2012, according to regulatory filings.
Klein said the company will benefit from global growth in travel by selling software to help customers "solve their biggest problems, like the logistics of running an airline every day."
Sabre scored a big win in January when American Airlines Group Inc. picked it to build the reservations system that it will use after American and US Airways are fully combined.
Sabre started as the reservations department of American, which spun it off in 2000. TPG and Silver Lake bought Sabre in 2007 for $4.5 billion and took it private.