Philippine casino operator Travellers International Hotel Group looks set to raise Ps17.74 billion $411 million from its initial public offering after sources said it had fixed the price just above the mid-point at Ps11.28 per share.
On the final day of bookbuilding on Tuesday, the deal was described as being “in good shape” and “comfortably covered”. The demand was said to come primarily from Asia, which is perhaps somewhat surprising given the large number of gaming-focused investors in the US.
When Melco Crown Philippines Resorts raised $337 million from a re-IPO in April this year, sources said the interest was particularly strong from US investors who...
¬ Haymarket Media Limited. All rights reserved.
