HONG KONG, April 23 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
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.