M&L Hospitality Trusts (M&L Trusts) has kicked off the institutional roadshow for what could become the largest initial public offering in Singapore in almost a year. The vehicle, which is structured as a stapled security comprising a real estate investment trust (Reit) and a dormant business trust, is seeking to raise between S$425.8 million and S$463 million ($339 million to $369 million). If all goes to plan, it will start trading on May 5.
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