Ascendas Hospitality IPO

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.
<div style="text-align: left;">
Cornerstone investor Accor manages a portfolio of hotel brands, including Ibis
</div>
<div style="text-align: left;"> Cornerstone investor Accor manages a portfolio of hotel brands, including Ibis </div>

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, including China, was initially aiming to raise between $600 million and $700 million after starting pre-marketing in early May. But the company decided later that month to postpone the launch of a formal institutional roadshow...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222