HAMILTON, Bermuda (July 7) — Hotel and leisure company Orient-Express Hotels Ltd., parent of Windsor Court in New Orleans, ‘21’ Club in New York, and Hotel Cipriani in Venice, registered with the SEC for an initial public offering.
Under the terms of the offering, the Bermuda-based company will sell 10 million shares of its common stock at a price range of $20 to $23 a share. Parent company Sea Containers Ltd. is selling 5 million of the 10 million shares. Orient-Express will use about $95 million of the expected $100 million in net proceeds to repay debt of five of the company’s properties.
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