Singapore Exchange (SGX) today announced the listing of Global Premium Hotels on Mainboard under the stock code “P9J”.
Global Premium Hotels operates one of Singapore’s largest hotel chains comprising 23 economy- and mid-tier hotels with a total 1,738 rooms. With an operating history of more than 15 years, the company works with local and overseas travel agents, both online and conventional, to promote its hotels. It has also entered into contracts with firms such as shipping companies to provide accommodation to their staff and crew during their stay in Singapore.
Mr Lim Chee Chong, Chief Executive Officer of Global Premium Hotels said, “Today’s launch marks a key milestone for Global Premium Hotels. As a home-grown hotel chain and one of the largest economy-tier hotel chains in Singapore, the Group is much honoured to have made such a significant breakthrough. With our well-recognised “Fragrance” and “Parc Sovereign” hotel brand names, together with our quality rooms available at affordable prices, we are confident that the Group will be able to remain the preferred hotel of choice for many years to come. We will continue to work hard to enhance shareholder value and share the rewards of the Group’s growth strategies with all investors.”
“We welcome home-grown Global Premium Hotels to the SGX family and our pool of real estate companies which now number 69 with total market capitalization of over S$128 billion. The real estate and hotel industries are important to Singapore’s economy and we are delighted that Global Premium Hotels has chosen to raise capital through SGX, the Asian Gateway, to grow its business and contribute to these sectors,” said Mr Lawrence Wong, Head of Listings at SGX.