Orient-Express Hotels raises $138 million in gross proceeds from offering of 12 million shares
By APTuesday, January 19, 2010
Orient-Express raises $138M in stock offering
NEW YORK — Orient-Express Hotels Ltd. said Tuesday that it raised gross proceeds of $138 million from a public offering of 12 million shares of its Class A stock.
Net proceeds total about $131 million after underwriting discounts and estimated offering expenses, the Bermuda-based hotel owner and manager said.
The underwriters fully exercised their overallotment option, buying an additional 1.8 million shares. In total, 13.8 million shares were sold at $10 a piece.
Shares of Orient-Express Hotels added 18 cents to $11.50 in afternoon trading.
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