M&L Mulls Sydney Listing After Scrapping 2012 Singapore IPO
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M&L Hospitality Trusts, the owner of Australia’s biggest hotel, may seek a listing in the country after abandoning its initial stock sale in Singapore last year.
The trust, with $1 billion of hotels in five nations, may add more properties before its next listing attempt, said Michael Kum, the chairman of the Singapore-based M&L. The owner of the Four Points by Sheraton overlooking Sydney’s Darling Harbour dropped plans to raise as much as S$463 million ($373 million) in April 2012 because demand was weaker than targeted, two people with knowledge of the matter said at the time.