ARA US Hospitality Trust raises $498m in Singapore IPO

ARA US Hospitality Trust raises $498m in Singapore IPO

A view of the SGX signage outside their office in Singapore March 2, 2017. REUTERS/Edgar Su

ARA US Hospitality Trust (ARA H-Reit) has raised $498 million by selling 379.8 million stapled securities at $0.88 apiece in its initial public offering in Singapore, according to a company statement Thursday.