Market news —
Thai Hotel Empire Weighs $1 Billion REIT, Unit IPO to Cut Debt
Minor International Pcl — Thailand’s largest hotel and restaurant chain operator — plans to set up its first real estate investment trust worth about $1 billion, and is exploring a Hong Kong listing of its restaurant unit to raise funds for debt repayment....read more on Bloomberg
The company will sell 14 hotels in Europe and Thailand into the REIT, Chief Executive Officer Dillip Rajakarier said in a press briefing in Bangkok on Friday, adding that the trust will be listed in Singapore in the second half of this year.