EHT says no requirement to disclose sponsor's links to its largest investor
Frank Yuan's firm sold six hotels to the sponsor's founders, who then injected them into the 18-hotel portfolio that forms the IPO
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Singapore
THE man who became Eagle Hospitality Trust's (EHT) single largest shareholder during its lukewarm initial public offering (IPO) was also the man who sold EHT's sponsor six of the 18 hotels that eventually formed its IPO portfolio, EHT confirmed on Thursday.
But as the seller, ASAP Holdings, had sold the six hotels to the sponsor's founders, who subsequently injected them into EHT soon after, there is no legal requirement to disclose their relationship, EHT also said.
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