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Travellers International Hotel Group Inc Postpones $970 Million IPO-DJ


Monday, 8 Jul 2013 11:57pm EDT 

Dow Jones reported that according to Philippine Stock Exchange, Travellers International Hotel Group Inc has postponed a planned Initial Public Offering (IPO) that could have raised as much as $970 million for the hotel and casino operator. Travellers Hotel plans to issue as much as 1.81 billion shares, including 235.98 million for over allotment, at PHP23.38 each, or a total of PHP42.30 billion. Travellers International has engaged CIMB, Maybank, Religare Capital Markets, UBS and Bank of America Merrill Lynch to oversee the IPO.