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...
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