Featuredfinanceasianhospitality.com··1 min·For: Owner, Investor, Revenue
Prestige Drops $282M IPO for $313M CPP Deal
Prestige Estates has cancelled the planned $282 million IPO of its hospitality division to pursue up to $313 million in private funding from CPP Investments. The deal implies a $1.12 billion valuation for Prestige Hospitality Ventures amid turbulent public market conditions.
Key Takeaways
- 1Prestige scrapped its $282M hospitality IPO citing uncertain market conditions.
- 2CPP Investments will acquire up to a 28% stake for up to $313M across multiple tranches.
- 3The pivot follows a weak public debut by Schloss Bangalore, which listed at a discount.
Source: asianhospitality.com
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