Orient-Express: Closing $123.6 Million Offering
Bermuda-incorporated Orient-Express Hotels Ltd. today [Nov 15] 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.
Orient-Express Hotels Ltd owns or partly owns dozens of individual deluxe hotels, restaurants, tourist trains and river cruise businesses in more than 25 countries worldwide.
