||Raising S$117 mln through IPO, much of which will go to pay parent company for hotels
[22/4/2012] – The company behind Singapore's Fragrance hotels is going public.
Global Premium Hotels (GPH) owns and operates the second-largest economy-tier hotel chain here.
Its 23 hotels have 1,738 rooms, of which 22 are operated under the "Fragrance" brand and one under the “Parc Sovereign” brand.
GPH is an investment holding company, which bought up six existing subsidiaries from parent company Fragrance Group for S$558 mln on April 13, 2012, ahead of the listing on April 24.
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