Oct 16 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