ARA US Hospitality Trust prices IPO at US$0.88 per stapled security; expects to raise US$498m

Singapore

ARA US Hospitality Trust has priced its initial public offering (IPO) at US$0.88 per stapled security, according to registration documents on May 2.

The IPO comprises nearly 379.8 million stapled securities subject to an over-allotment option, comprising an international placement of over 328.6 million stapled securities to investors outside the US, and an offering of over 51.1 million stapled securities to the public in Singapore.