Langham Hospitality Investments, a trust fund supported by Great Eagle Holdings Ltd hotels, is projecting revenues as high as US$700 million when it undertakes its initial public offering in Hong Kong. This was the information provided by two people familiar with the transaction.
The company is based in Hong Kong and has been feeling out the market for its IPO this coming week. The company would formally start trading the shares by next month according to the anonymous sources. It is projected that the revenues from the IPO can reach at least US$600 million.
The trust would be backed by the Langham, Langham Place Hotel and the Eaton, with all three located in the Kowloon district with a combined occupancy of 1,629 rooms. This was found in the pre-listing form filed in the Hong Kong stock exchange later.
The offer managers are Citigroup Inc, Deutsche Bank AG and HSBC Holdings Plc. The spokesperson for Langham Hospitality declined to give a comment on the IPO to be held.
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