09-06-2014, 04:02 PM
(This post was last modified: 09-06-2014, 04:19 PM by greengiraffe.)
http://www.businesstimes.com.sg/breaking...es-2014060
PUBLISHED JUNE 09, 2014
Thai tycoon Charoen's hospitality trust IPO could raise up to US$358m: sources
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Charoen0906
Thai billionaire Charoen Sirivadhanabhakdi's Singapore real estate company Frasers Centrepoint Ltd (FCL) could raise as much as US$358 million by listing a hospitality industry trust business in Singapore, two people with direct knowledge of the matter said. - PHOTO: THE NATION, BANGKOK
[SINGAPORE] Thai billionaire Charoen Sirivadhanabhakdi's Singapore real estate company Frasers Centrepoint Ltd (FCL) could raise as much as US$358 million by listing a hospitality industry trust business in Singapore, two people with direct knowledge of the matter said.
The deal size is slightly below an earlier estimate of as much as US$480 million for the initial public offering, made before Frasers Hospitality Trust (FHT) began pre-marketing last week. The trust comprises six serviced residences controlled by FCL and six hotels such as Singapore's InterContinental Hotel, owned by Charoen's TCC group.
FCL indicated to investors the newly listed firm will have a market capitalisation of between S$1.02 billion (US$815 million) to S$1.12 billion, one of the people told Reuters. The parent plans to sell 30 per cent to 40 per cent stake of FHT to investors, raising up to S$448 million (US$358 million), both people said.
The people did not want to be identified because the details of the deal are not public.
http://www.financeasia.com/News/387688,f...s-ipo.aspx
PUBLISHED JUNE 09, 2014
Thai tycoon Charoen's hospitality trust IPO could raise up to US$358m: sources
PRINT |EMAIL THIS ARTICLE
Charoen0906
Thai billionaire Charoen Sirivadhanabhakdi's Singapore real estate company Frasers Centrepoint Ltd (FCL) could raise as much as US$358 million by listing a hospitality industry trust business in Singapore, two people with direct knowledge of the matter said. - PHOTO: THE NATION, BANGKOK
[SINGAPORE] Thai billionaire Charoen Sirivadhanabhakdi's Singapore real estate company Frasers Centrepoint Ltd (FCL) could raise as much as US$358 million by listing a hospitality industry trust business in Singapore, two people with direct knowledge of the matter said.
The deal size is slightly below an earlier estimate of as much as US$480 million for the initial public offering, made before Frasers Hospitality Trust (FHT) began pre-marketing last week. The trust comprises six serviced residences controlled by FCL and six hotels such as Singapore's InterContinental Hotel, owned by Charoen's TCC group.
FCL indicated to investors the newly listed firm will have a market capitalisation of between S$1.02 billion (US$815 million) to S$1.12 billion, one of the people told Reuters. The parent plans to sell 30 per cent to 40 per cent stake of FHT to investors, raising up to S$448 million (US$358 million), both people said.
The people did not want to be identified because the details of the deal are not public.
http://www.financeasia.com/News/387688,f...s-ipo.aspx