Ascendas Hospitality Trust launches Singapore IPO

The trust, which first started pre-marketing in May, has signed up three cornerstone investors for the $450 million deal and is offering a yield of up to 7.8% for March 2013.

Ascendas Hospitality Trust launches Singapore IPO
Cornerstone investor Accor manages a portfolio of hotel brands, including Ibis

Ascendas Hospitality Trust has launched an initial public offering that could raise up to S$573 million $450 million, sources said yesterday.

The company launched the deal on Monday night and the roadshow started yesterday in Singapore before moving to Hong Kong in the latter part of the week, one of the sources said. The listing is scheduled for July 26.

Ascendas Hospitality, which owns hotels in Australia and several Asian markets,...

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