Pure-play US hospitality trust seeks listing on SGX mainboard

ARA US Hospitality Trust has launched a preliminary prospectus for a planned initial public offering on the mainboard of the Singapore Exchange. It will be the first pure-play US hospitality trust to list on the Singapore bourse.

ARA Real Estate Investors 23 is the sponsor for the offering. The pricing, amount to be raised, and timing of the offering have not yet been announced. The offering comprises stapled securities in ARA US Hospitality Trust, a hospitality stapled group comprising ARA US Hospitality Property Trust , and ARA US Hospitality Management Trust .

ARA H-Reit is a real estate investment trust constituted in Singapore, while ARA H-BT is a registered business trust constituted in Singapore. Each stapled security consists of a unit in ARA H-Reit and an ARA H-BT unit, and ARA US Hospitality Trust will be able to list and quote up to 835 million stapled securities.According to the prospectus lodged on Tuesday, the projected net property income of ARA US Hospitality Trust for the eight-month period from May 1 to Dec 31, 2019, is US$42.3 million.

Cornerstone investors of the offering include SingHaiyi’s Gordon Tang and Celine Tang, Bank of Singapore, DBS Bank, Credit Suisse AG, United Overseas Bank and ICH Capital.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore and US energy regulators to boost bilateral cooperationSINGAPORE - Singapore's Energy Market Authority (EMA) and the US Federal Energy Regulatory Commission (FERC) will be enhancing their bilateral cooperation towards greater energy security and resilience.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Singapore, US energy regulators to boost bilateral cooperationSINGAPORE’S Energy Market Authority (EMA) and the US Federal Energy Regulatory Commission (FERC) will be enhancing their bilateral cooperation towards greater energy security and resilience. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US businesses no longer 'positive anchor' for US-China relations: chamberFrustrated U.S. businesses can no longer be counted on as a 'positive anchor' in U.S.-China relations, a top U.S. business lobby said on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

ST Engineering buys US engine parts maker for US$506mDefence contractor Singapore Technologies Engineering on Thursday completed its acquisition of an aeroplane engine parts maker for a net consideration of US$506 million (S$683 million) in cash. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »