Spanish hotel chain High Tech Hoteles is planning to seek a listing after the summer, Dinamia and Nmas 1, the two private equity companies that own a majority stake in the group, have told the Spanish bourse regulator CNMV. High Tech is expected to become the third-largest listed hotel company in Spain, after Sol Meliá and NH Hoteles. Dinamia said it has already begun the necessary steps for the IPO.
Spanish hotel chain High Tech Hoteles is planning to seek a listing after the summer, Dinamia and Nmas 1, the two private equity companies that own a majority stake in the group, have told the Spanish bourse regulator CNMV. High Tech is expected to become the third-largest listed hotel company in Spain, after Sol Meliá and NH Hoteles. Dinamia said it has already begun the necessary steps for the IPO.
Dinamia and Nmás1 will list about 60% of High Tech in an Initial Public Offering (IPO) which is expected to raise about EUR 150 mln, newspaper Expansion reported. The funds will be used to help grow the chain's portfolio of hotels from 29 to 50 by 2009.
