Travellers International files for up to $854 mln Philippine IPO-IFR
HONG KONG May 10 (Reuters) - A joint venture between casino operator Genting Hong Kong Ltd and Philippine conglomerate Alliance Global Group Inc could raise up to $854 million in an initial public offering in Manila, IFR reported on Friday, citing a preliminary draft prospectus.
Travellers International Hotel Group, as the Genting and Alliance venture is called, filed to sell 1.49 billion shares at a maximum price of 23.38 pesos, putting the total deal at 34.8 billion pesos ($854 million), added IFR, a Thomson Reuters publication.
The IPO is expected within the next three months and the final size of the deal might change, IFR said.
The company last month hired Bank of America Merrill Lynch , CIMB, Maybank, Religare Capital Markets and UBS to handle the offering.
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