Global Premium Hotels

Global Premium Hotels: Global Premium is planning to spend $25.1m from its IPO proceeds and working capital to acquire Fragrance Heritage (FHPL)from parent, Fragrance Group. FHPL is a special-purpose co whose sole real estate asset comprises a freehold 2,254.2 sqm development site on Tyrwhitt Road, which Global premium intends to develop a hotel. According to 2 independent valuers appointed by FHPL, as at May 24, the estimated open market value of the Tyrwhitt Road property is $78m.