Carlyle-backed New Century Hotel Group plans IPO
China’s New Century Hotel Group, one of The Carlyle Group’s portfolio companies, plans a $400 million IPO in Hong Kong in September, The Wall Street Journal reported, citing people familiar with the situation. Deutsche Bank and Morgan Stanley have been hired to manage the offering.
The move comes despite considerable stock market volatility, which has led to several companies shelving listing plans in recent weeks. The Hang Seng Index was down 3.50% in morning trading on Monday,...
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