Investors were said to have liked CDLÆs focus on hotel assets, which essentially makes it a play on SingaporeÆs growing tourism industry. The initial portfolio comprises four hotels, including the Orchard Hotel and the Grand Copthorne Waterfront Hotel, as well as a shopping arcade attached to the Orchard Hotel.
Sources say the sponsor of the trust, Millennium and Copthorne Hotels, had agreed last night with bookrunners BNP Paribas Peregrine and DBS to price the offering at the bottom...
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