Travellers set to raise $411 million from IPO

The Philippine casino operator fixes the price above the mid-point, while Robinsons Retail starts the bookbuilding for a $706 million offering.

Travellers set to raise $411 million from IPO

Philippine casino operator Travellers International Hotel Group looks set to raise Ps17.74 billion $411 million from its initial public offering after sources said it had fixed the price just above the mid-point at Ps11.28 per share.

On the final day of bookbuilding on Tuesday, the deal was described as being “in good shape” and “comfortably covered”. The demand was said to come primarily from Asia, which is perhaps somewhat surprising given the large number of...

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