banyan-tree-pulls-off-ipo-despite-tough-markets

Banyan Tree pulls off IPO despite tough markets

Investors bank on strong brand and global expansion plans to drive earnings growth for luxury resort and spa operator.
Banyan Tree Holdings, which operates luxury hotels, resorts and spas primarily in Southeast Asia, has raised S$368.7 million $232 million after pricing its long-awaited initial public offering in the middle of the indicated range.

At that price the Singapore listing-candidate is valued at a slight discount to its peers, but the fact that it was able to avoid pricing at the very bottom in the current volatile market environment was a clear testament to the quality attached to this name and the strength and prestige of the brand, observers say.

The Singapore stock market fell 3.6% during the two-week bookbuilding and has plunged 13.7% from its record high on May 3. The two newcomers to...
¬ 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