Travellers International has lacklustre market debut

Travellers International Hotel Group Inc had a lacklustre start on its market debut on Tuesday, with the share price closing at 11.26 pesos, 0.2 cents lower than its IPO price of 11.28 pesos. The company raised $470 million in its IPO to expand Resorts World Manila. 

In a speech on Tuesday, president David Chua highlighted the company’s travel and entertainment initiatives, announcing that Malaysia had become a top 10 source market for the Philippines, with Star Cruises having made two maiden voyages to Manila and Boracay, bringing over 5,000 passengers from Xiamen in China, Hong Kong and also Taiwan.