The much-discussed equity raising/float for Australian hotel and apartment manager, Mantra Group, is tipped to happen this week. According to recent, and somewhat disparate reports, Mantra Group shares will be sold in a book build via UBS and Macquarie to institutional investors for between $2 and $2.60 per security, while the amount to be raised may each AUD450 million.

Assuming this stage of the process is a success, the stock will then be listed on the Australian Stock Exchange. Mantra Group is 60% owned by private equity firm CVC Asia Pacific and 40% by the Swiss Bank UBS, which ended up with its share in a debt for equity swap.

Mantra Group has a total portfolio of 111 properties and over 11,400 rooms across Australia, New Zealand and in Indonesia.

It operates the Mantra, Peppers and BreakFree brands.

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