Travellers hires five banks for up to $500 mln Philippines IPO-IFR
HONG KONG, April 23
HONG KONG, April 23 (Reuters) - A joint venture between casino operator Genting Hong Kong Ltd and Philippine conglomerate Alliance Global Group Inc hired five banks for an up to $500 million initial public offering in Manila, IFR reported on Tuesday, citing sources with direct knowledge of the deal.
Travellers International Hotel Group, as the Genting and Alliance venture is called, plans to go public early in the third quarter, added IFR, a Thomson Reuters publication.
Alliance said on Tuesday in a securities filing that Travellers International is exploring different ways to finance its projects, including debt and equity, without disclosing details of its plans.
Bank of America Merrill Lynch, CIMB, Maybank, Religare Capital Markets and UBS were hired to handle the offering.