One of Asia's best known, home grown, luxury brands is planning to list at the beginning of next year. UBS is believed to have won the mandate to float the Banyan Tree, beating hot favourite Goldman Sachs, which has been advising the group on its listing plans for over a year.
One of the main conundrums faced by the group has been whether to list in Hong Kong, where there is much greater liquidity, or in Singapore where it is based and has been under pressure from the government to go public. It is now believed to be leaning towards Singapore.
The IPO is expected to raise about $200 million and...
