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Singapore – Duane Morris & Selvam Advised Global Premium Hotels on SGX IPO.

10 May, 2012

 

Duane Morris & Selvam LLP advised Global Premium Hotels Limited on its successful listing on the Main Board of the Singapore Exchange Securities Trading Limited (SGX) on 26 April 2012. Global Premium Hotels Limited operates one of Singapore’s largest chains of hotels with 23 hotels, of which 22 are operated under the “Fragrance” brand and one hotel under the “Parc Sovereign” brand. The transaction, which involved an offering of 450.0 million new shares at $0.26 per share and raised approximately S$112.1 million of net proceeds, is part of a restructuring exercise to spin-off and separately list the hotel business of SGX-listed Fragrance Group Limited, under its subsidiary, Global Premium Hotels Limited. Director Lo Kim Seng, Associate Director Jason Yang and Associates Saifuddin Fakhruddin and Urvaksh Doctor advised on the transaction.

 

For further information, please contact:

 

 

Shaheedah Ibrahim, Duane Morris & Selvam LLP
 
 

 

 

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