Article: Banyan Tree's IPO raises $232 million BUSINESS ASIA by Bloomberg

Netty Ismail
International Herald Tribune
06-09-2006
Banyan Tree Holdings, which runs luxury resorts from Seychelles to Phuket, raised 368.7 million Singapore dollars, or $232 million, after selling shares at the middle of the range offered to investors, two bankers involved in the sale said Thursday.Banyan Tree sold 380.1 million shares at 97 Singapore cents apiece, 10 cents lower than the maximum price of 1.07 dollars, the bankers said, asking not to be identified before an official announcement. The offering range started at 87 cents.A sell-off in Singapore's benchmark index has fueled concerns among investors that Banyan Tree's shares could slump once they begin trading Wednesday. The ...

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