LONDON (dpa-AFX) - SSP Group plc (SSPG.L), an operator of food and beverage outlets in travel locations, Wednesday said the price band for initial public offering in India of Travel Food Services, a joint venture between SSP and K Hospitality Corp is set between 1,045 and 1,100 Indian rupees per share.
This indicates an expected market capitalisation for TFS between 137.6 and 144.8 billion Indian Rupees.
Through the IPO, TFS shares are sold by SSP's JV partner, the Kapur Family Trust, the shareholding entity of K Hospitality Corp., and TFS and SSP will not receive any proceeds from the offer.
As announced earlier, SSP will purchase about 1.01% of TFS' share capital for about 12.5 million pounds to make its total stake in TFS to 50.01%.
TFS shares are expected to trade on the Indian stock exchange on July 14.
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