1. Listing Statistics
Global Premium Hotels plans to raise up to S$117m in gross proceeds (S$112.1m net) by offering 450m new shares at S$0.26 each. An over-allotment option of 67.5m shares is available.
i)Substantial shareholder Fragrance Group Ltd. (stake of ~55%, assuming overallotment option is not utilized) agreed to a 6-month moratorium on any possible sale of its stake.
ii)13m offer shares will be available to the public and 437m via placement.
Indicative Date and Events
1)Close of Application : 24 April noon
2)Balloting : 25 April
3)Ready-basis trading : 26 April 9am
Use of Net Proceeds
1)S$74.8m Partial repayment of the purchase consideration to Fragrance Group
2)S$30.0m Development and expansion of hotel business and operations in Singapore and overseas
3)S$7.3m Working capital purposes
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