Travellers International plans to raise $411 million

Travellers International Hotel Group has priced shares in its initial public offering at 11.28 pesos a share to raise as much as 17.74 billion pesos ($411 million). Earlier reports said the company had been planning to price the stock at as much as 23.38 pesos, but cut back because of shaky market sentiment. Travellers is offering 1.573 billion shares and has an indicative price range of 10.65 to 11.88 pesos a share.