Orient-Express Hotels Announces Closing of $123.6 Million Common Share Offering
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Orient-Express Hotels Announces Closing of $123.6 Million Common Share Offering
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Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2010-11-16
Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient express.com), today announced the closing of its previously announced public offering of 10,000,000 Class A common shares. The company also announced that the underwriters for the offering exercised in full their over-allotment option to purchase an additional 1,500,000 Class A common shares, bringing the total shares sold to 11,500,000 at a price of $10.75 per share for gross proceeds of $123.6 million. Orient-Express Hotels Ltd. received net proceeds of approximately $117.2 million, after deducting underwriting discounts and estimated offering expenses.
Deutsche Bank Securities Inc. and Barclays Capital Inc. acted as joint book-running managers and underwriters for the offering.
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