ports

The recent spike in IPO activity continues with Philippine casino operator Travellers and NW Hotel Investments flagging they are ready to launch after a three-month delay and Qunar planning the largest Chinese listing in the US in two years.

The ports operator is aiming to raise up to $626 million, with more than 80% of the deal already taken up by domestic institutions and cornerstones.

International Container Terminal in the Philippines raises $199 million of fresh capital, while Thailand’s Central Pattana and two shareholders pocket a combined $366 million.

An unnamed corporate vendor sells its entire 2.6% stake in the Philippine company through a well-anchored deal.

HPH Trust, which owns and operates key ports in Hong Kong and Yantian, will raise $5.45 billion from its Singapore IPO after fixing the price at $1.01 per unit.

Eight cornerstones will buy $1.62 billion worth of the deal, while the preferential offering will account for at least $388 million to $460 million.

HPH Trust is expected to raise about $6 billion before listing as a business trust in Singapore next month.

The Hong Kong conglomerate has flagged an intention to spin off its container ports assets in Hong Kong and Guangdong for a separate listing that market sources estimate could raise as much as $5 billion to $7 billion.

The Indian port operator raises $107 million after fixing the price above the mid-point.