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ASAP sold hotels to sponsor ahead of IPO to gain transaction certainty: EHT

Nisha Ramchandani
Published Sun, Nov 3, 2019 · 09:50 PM

Singapore

ASSET management firm ASAP sold six hotels to Eagle Hospitality Trust's (EHT) sponsor ahead of EHT's initial public offering (IPO) to gain transaction certainty independent of the IPO process, said EHT.

The trust was responding to queries from the Singapore Exchange (SGX), which questioned the rationale for the sale to be conducted in such a manner, as op…

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