International Hotel Investments said today that in line with its strategy to raise new equity it will be conducting road-shows with international institutional investors in various jurisdictions.

The company, a Corinthia subsidiary with hotels in various cities, said that its strategy remains firmly grounded in its vision and objective to expand its portfolio of hotels and mixed-use properties internationally.   One of the reasons for the raising of fresh equity is the deployment of such capital in its planned expansion in key international cities.

The company had made attempts in 2008  and in 2010 to issue new shares by
virtue of a public offering on an international exchange and to have its share capital listed on such an exchange. The turbulent economic condition of financial markets during this period, however, led the company to postpone this route for equity raising.

"The company believes that the current economic conditions in financial markets remain challenging and do not provide the appropriate environment for a successful launch of the company’s share capital on an international
market," the company said in a statement.

"The directors however believe that the implementation of the company’s vision and objective remains of paramount importance and that the company should therefore explore avenues for the raising of equity capital other than a general offering of its shares for subscription linked to a listing on an international exchange."

The company said it had identified a number of potential investors, consisting principally of sovereign funds and other institutions to which it will make presentations, inviting them to participate in the subscription of new shares with a view of raising new equity capital on a private placement basis.