18-04-2012, 04:15 PM
(This post was last modified: 23-10-2013, 03:12 PM by CityFarmer.)
Global Premium Hotels launches IPO at S$0.26 per share
Opportunity to invest in the second largest economy-tier hotel chain in Singapore
IPO seeks to raise approximately S$117.0 million in gross proceeds to mainly fund the acquisition of Fragrance Group Limited’s hotel portfolio and future expansion
Offering closes at 12 noon on Tuesday, 24 April 2012
19 April 2012 – Global Premium Hotels Limited ("GPH"), the owner and operator of the second largest economy-tier hotel chain in Singapore, launched its Initial Public Offering ("IPO" or "Invitation") of 450.0 million new shares today at the Issue price of S$0.26 per share ("Issue Price"). The Invitation comprises 13.0 million shares to the public, and 437.0 million shares by way of placement. It will close at 12 noon on Tuesday, 24 April 2012. GPH is scheduled to commence trading on the SGX Mainboard on Thursday, 26 April 2012. The market capitalisation of GPH based on the Issue Price and the post-Invitation share capital is S$260.0 million. Oversea-Chinese Banking Corporation Limited ("OCBC") is the issue manager, underwriter and placement agent for the IPO. GPH has granted OCBC an over-allotment option of up to 67.5 million additional new shares, representing 15.0% of the total number of invitation shares.
Mr. Lim Chee Chong, Chief Executive Officer of GPH, commented, "Global Premium Hotels is the second largest economic-tier hotel chain in Singapore1. We have established track record and reputation for providing affordable and value-for-money accommodation in terms of price, location, service and cleanliness. This has led to our "Fragrance" brand of hotels becoming well-recognised in the local and regional hospitality industry. We are committed to deliver continued earnings growth through the development of new hotels and asset enhancement. We also plan to distribute at least 80% of the net profit for FY2012 to shareholders."
For more information, please refer to attached press release.
The following link is the URL to access the prospectus for Global Premium Hotel:
Prospectus
http://masnet.mas.gov.sg/opera/sdrprosp....ean%29.pdf
Opportunity to invest in the second largest economy-tier hotel chain in Singapore
IPO seeks to raise approximately S$117.0 million in gross proceeds to mainly fund the acquisition of Fragrance Group Limited’s hotel portfolio and future expansion
Offering closes at 12 noon on Tuesday, 24 April 2012
19 April 2012 – Global Premium Hotels Limited ("GPH"), the owner and operator of the second largest economy-tier hotel chain in Singapore, launched its Initial Public Offering ("IPO" or "Invitation") of 450.0 million new shares today at the Issue price of S$0.26 per share ("Issue Price"). The Invitation comprises 13.0 million shares to the public, and 437.0 million shares by way of placement. It will close at 12 noon on Tuesday, 24 April 2012. GPH is scheduled to commence trading on the SGX Mainboard on Thursday, 26 April 2012. The market capitalisation of GPH based on the Issue Price and the post-Invitation share capital is S$260.0 million. Oversea-Chinese Banking Corporation Limited ("OCBC") is the issue manager, underwriter and placement agent for the IPO. GPH has granted OCBC an over-allotment option of up to 67.5 million additional new shares, representing 15.0% of the total number of invitation shares.
Mr. Lim Chee Chong, Chief Executive Officer of GPH, commented, "Global Premium Hotels is the second largest economic-tier hotel chain in Singapore1. We have established track record and reputation for providing affordable and value-for-money accommodation in terms of price, location, service and cleanliness. This has led to our "Fragrance" brand of hotels becoming well-recognised in the local and regional hospitality industry. We are committed to deliver continued earnings growth through the development of new hotels and asset enhancement. We also plan to distribute at least 80% of the net profit for FY2012 to shareholders."
For more information, please refer to attached press release.
The following link is the URL to access the prospectus for Global Premium Hotel:
Prospectus
http://masnet.mas.gov.sg/opera/sdrprosp....ean%29.pdf