GreenTree Inns plans US$150m IPO in U.S.

格林豪泰确认赴美上市融资

GreenTree Inns, a Chinese budget hotel chain, is expected to list on the New York Stock Exchange (NYSE) as early as the end of May, the Beijing Business Today reported Monday, citing an anonymous inside source.

If all goes as planned, Shanghai-based GreenTree Inns will be the fourth budget hotel chain in China to pull off a U.S. listing, following in the footsteps of Home Inns, 7 Days Group and Hanting Inns & Hotels.

GreenTree Inns is expected to raise US$150 million through the initial public offering (IPO), almost 1.5 times the amount raised by Home Inns, 7 Days and Hanting, which raised US$102, US$111 and US$101 million respectively.

GreenTree Inns declined to release details of the planned IPO, because the company is not allowed to make any public comments about the IPO during the quiet period leading up to the listing. The U.S. Securities and Exchange Commission orders companies making an IPO to be silent about it for 25 days after they file registration statements, so as not to artificially inflate the value of the stock.

By the end of the first quarter of this year, Home Inns, 7 Days and Hanting owned 848, 619 and 476 properties nationwide. GreenTree Inns currently has only about 300 locations, and 75 percent are leased, not owned. However, it's expected to open more new stores after the US listing, which was also the case with its other listed competitors.

记者从格林豪泰内部得到确认，格林豪泰赴纽交所上市几成定局，最快5月底就能正式在纽交所挂牌。

如果成功上市，格林豪泰有望成为在如家、七天连锁和汉庭后第四家赴美上市的企业。

对比之前如家融资的1.02亿美元、7天融资的1.11亿美元、汉庭融资的1.01亿美元，本次格林豪泰计划上市融资1.5亿美元，融资额超越前几家一半左右。

　　对于格林豪泰此次赴美上市的具体进展，格林豪泰官方表示，由于格林豪泰目前尚处在纽交所对上市公司规定的静默期，从目前开始到格林豪泰IPO后的25日之内，格林豪泰不得从官方渠道对上市做出任何回应。

截至2011年一季度，如家、7天和汉庭的门店数量分别是848家、619家和476家。格林豪泰目前的门店数量约300多家，但加盟比例高达75%。但格林豪泰的门店数量有望在上市后增加，因为此前上市的经济快捷酒店都是如此。