Business
Fundraising & AIM Admission
Fundraising & AIM Admission.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n India Hospitality Corp.\n01 August 2006\n\n\nNOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN OR INTO THE UNITED STATES OF\nAMERICA\n\nFor Immediate Release 1 August 2006\n\n\n INDIA HOSPITALITY CORP\n\n\n\n $100M Fundraising Makes New AIM Entrant Largest SPAC Focused On India\n\n •Targeting multiple acquisitions in hospitality, leisure, tourism, travel\n and related industries\n •Management team headed by Jason Ader - proven track record in hospitality\n sector investment and research - previously Senior Managing Director with\n Bear Stearns & Co before founding New York based investment manager\n Hayground Cove\n •Experienced management team with 'on the ground' presence and sourcing\n network - key to successful diligence and investment selection\n •Focus on fast-growing Indian cities and top tourist destinations in India\n -non-luxury markets overlooked by major players\n •India's GDP has recently grown at 7-8%, expected to continue\n •India's middle class estimated at 300m in 2005, expected to grow to 500m\n by 2010 - greater purchasing power allied to more budget airline entrants\n underpins significant domestic air travel growth expectations - further\n fuelling hospitality growth\n •Attractive growth potential due to significant sector demand/supply\n imbalance - recent Government initiatives to address shortage of hotel\n rooms, especially ahead of the 2010 Commonwealth Games\n •Dealings due to start on AIM today\n •Deutsche Bank AG London acting as NOMAD\n\nCommenting on the fundraising and admission to AIM, CEO Jason Ader said 'the\n$100m raised shows confidence in the opportunity to generate superior\nshareholder returns from our targeted area of the Indian hospitality market.'\n\nContact: \n\nMark Edwards/ Richard Oldworth \nBuchanan Communications +(44) 207 466 5000\n\n\n\n INDIA HOSPITATLITY CORP\n\n $100 MILLION FUND RAISING AND ADMISSION TO AIM\n\n\nIndia Hospitality Corp ('IHC' or 'the Company') is pleased to announce that it\nhas raised $100 million and dealings are due to commence on AIM today. Nominated\nAdviser and Broker to the Company is Deutsche Bank AG London\n\n\n\nPROPOSED BUSINESS\n\n\nIHC intends to use the funds raised to acquire an Indian business, businesses or\nassets focused on the hospitality, leisure, tourism, travel and related\nindustries, including but not limited t...