Deals
ARA US Hospitality Trust Seeks $451 Million in Singapore IPO
- Cornerstone investors have agreed to subscribe to 26% of offer
- Deal marks return to public markets for ARA founder John Lim
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ARA US Hospitality Trust is seeking to raise $450.7 million in Singapore’s first main board initial public offering this year.
The hospitality group will offer units at 88 cents apiece, according to terms of the deal obtained by Bloomberg. Six cornerstone investors have agreed to invest a combined $116.5 million, equivalent to 25.8 percent of the total offer.