The company plans to raise ₤93.5-113.9 million on the AIM at ₤234-285 million value.
Eli Papouchado, chairman of Park Plaza Hotels and Resorts Ltd., has taken another step towards floating the company on London’s Alternative Investment Market (AIM), with the publication of the details of the planned offering.
Park Plaza plans to issue 17 million shares - 40.1% of its share capital - at ₤5.50-6.70 each, to raise ₤93.5-113.9 million ($187-228 million) at a company value of ₤234-285 million ($468-570 million), after money. The company’s management launched the road show for the offering, which is due in two weeks.
Morgan Stanley is the chief underwriter for the issue.
Published by Globes [online], Israel business news - www.globes.co.il - on July 2, 2007
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