Travellers International Hotel Group Inc., the joint venture between business magnate Andrew Tan and Malaysian gaming tycoon Lim Kok Thay, has priced its $473-million initial public offering (IPO) at P11.28 apiece, still within its original guidance of P10.65 to P11.88 offer price.
Lauro Baja, managing director for UBS in the Philippines, said in a text message to reporters that Travellers, the owner of Resorts World Manila, has priced its $473-million IPO at P11.28 each share, achieving a market capitalization of $4.2 billion.
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