ARA US Hospitality Trust (“ARAHT” or the Trust”) is offering 379,776,300 Stapled Securities at US$0.88 each. The placement tranche of 328.6m excludes the Cornerstone Investors and the public offer consists of 51.136m units. Based on the IPO price, the market cap will be US$749.1m. The IPO will close on 7 May 2019 at 12pm and starts trading on 9 May 2019 at 2pm.
Successful applicants applying through the ATM will pay for the shares based on USD:SGD rate of 1:1.3668. There is also an over-allotment option of up to 6% or 22.7m units to help stabilise the share price. The Trust’s principal objective is to deliver regular and stable distributions to investors and achieve long term growth in DPS and NAV, while maintaining an appropriate capital structure. First pure-play US Hospitality Trust ARAHT is the first pure-play US upscale select-service hospitality trust