Not all hotel stays are the same. Mid-tier hotel operator La Quinta touted growth rather than the stability of its business, a message that received a lukewarm reception from investors on its US$650m IPO. Shares of the Blackstone Group-backed hotel operator initially broke offer price but rallied on follow-th
Late-stage, pre-IPO investments are proving an increasing popular tool among early-stage biotechnology companies.
CBS Corporation hit the top end of its target valuation on a US$560m carve-out of its outdoor advertising unit, CBS Outdoor Americas. The outcome is all the more impressive given lingering uncertainties about the planned conversion of the unit in a REIT. The IRS has yet to provide comfort on conversion into the tax-advantaged vehicle through a private-letter ruling.
- PE back with high leverage IPOs
- CBS takes risk on REIT qualification
- Biotech IPOs stand tall
- Quintiles' sponsors return with first follow-on
- Biotech IPOs see cooling demand
- Biotech booms on to public markets
- Ladder Capital climbs towards flotation