IPO cancellation

M&L Hospitality Trusts scraps Singapore IPO

The hotel-focused trust was aiming to raise at least $339 million, but chooses to pull the offering after being unhappy with the demand.
<div style="text-align: left;">
The 630-room Four Points by Sheraton (immediately behind the heritage corn exchange building) is Sydney’s largest hotel </div>
<div style="text-align: left;"> The 630-room Four Points by Sheraton (immediately behind the heritage corn exchange building) is Sydney’s largest hotel </div>

ML Hospitality Trusts ML Trusts told investors on Friday that it has decided not to proceed with its initial public offering in Singapore due to disappointing demand. The trust was set to own six hotels in Singapore, Australia and Japan at the time of listing and was looking to raise between S$425.8 million and S$463 million $339 million to $369 million, which would have made it the largest IPO in Singapore in almost a year.

In a brief statement, the company said that “the targeted book coverage outcome has not been achieved” but didn’t elaborate further. The family behind the trust will now explore other options for...

¬ 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 subscription (2-5 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 subscription (2-5 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