Langham Hospitality aims to raise up to $589 million from base deal

The Great Eagle spin-off is the first business trust-like vehicle to attempt a Hong Kong IPO in 18 months, offering yield-focused investors an alternative outside Singapore.

Langham Hospitality aims to raise up to $589 million from base deal
Langham Place Hotel in Hong Kong

Langham Hospitality Investments, the first yield-focused trust to seek a Hong Kong listing since the end of 2011, kicked off the management roadshow yesterday for an initial public offering of between HK$3.96 billion and HK$4.57 billion $510 million to $589 million.

The hotel-focused trust, which is sponsored by Hong Kong development and property investment company Great Eagle Holdings, is offering investors a yield of 5.65% to 6.5% for 2013. This is roughly...

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