ARA US Hospitality Trust debuts a shade off but ends day at IPO price of US$0.88
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ARA US Hospitality Trust on Thursday made its debut on the Singapore Exchange's mainboard at US$0.875 per stapled security, just slightly below its IPO (initial public offering) price of US$0.88, but recovered to end the day at the offer price.
The opening price represents a 0.6 per cent or half a US cent discount from the IPO price. The performance comes amid a generally weaker market, with the Straits Times Index slipping 14.14 points or 0.4 per cent to 3,269.70.
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