UPDATE 1-Travellers International prices share sale above mid-range-sources

Wed Oct 16, 2013 10:40am EDT

Oct 16 (Reuters) - The Philippines' Travellers International Hotel Group Inc priced its stock market listing at 11.28 pesos per share as expected, just above the middle of an indicative range, two sources with direct knowledge of the matter said.

The company is set to raise as much as 17.74 billion pesos ($411 million) from the share offer, they said. It could raise another $62 million if an over-allotment option is exercised.

The sources asked not to be identified because the pricing details are not yet public.

Travellers was not immediately available to comment.

The company is offering 1.573 billion shares and had earlier set an indicative price range of 10.65 to 11.88 pesos a share, according to a term sheet. The price is expected to be announced on Thursday, the sources said.

Travellers, a joint venture between casino operator Genting Hong Kong Ltd and Philippine conglomerate Alliance Global Group Inc, will use the proceeds to fund the expansion of its casino-entertainment complex in Manila.

Travellers debuts on the Philippine Stock Exchange on Nov. 5. Bank of America Merrill Lynch, CIMB, Maybank , Religare and UBS are joint global coordinators, international bookrunners and international lead managers, the term sheet showed.

Robinsons Retail Holdings Inc will debut on Nov. 11 in the Philippines' biggest share sale this year. Robinsons, operator of department stores and supermarkets, expects to raise as much as $777 million.

($1 = 43.1525 Philippine pesos) (Reporting by Saeed Azhar in SINGAPORE and Ngui Yantoultra in KUALA LUMPUR and Erik dela Cruz in MANILA. Editing by Jane Merriman)