Travel & Leisure: Orient-Express To Offer 8.5 Mil Shares
November 9, 2010 (FinancialWire) (http://www.financialwire.net/) — Orient-Express Hotels Ltd. (NYSE: OEH) said that it plans to sell 8.5 million shares of Class A common shares, par value $.01 per share, in an underwritten public offering. Deutsche Bank Securities (NYSE: DB) and Barclays Capital (NYSE: BCS) are acting as joint book-running managers. The underwriters will be granted a 30-day option to purchase up to an additional 1.275 million shares to cover over-allotments, if any.
Orient said it intends to use the net proceeds from this offering for general corporate purposes.
Bermuda-based Orient-Express Hotels are owners or part-owners and managers of 50 luxury hotels, restaurants, tourist trains and river cruise properties operating in 24 countries.
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