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Monday, June 22, 2009

Cox & Kings India plans to raise $100 million

Through public issue in September 2009

British travel firm Cox & Kings is reportedly planning an initial public offer of its Indian arm Cox & Kings India in September 2009 to take on the burgeoning Indian holiday market.

Reports quoting Chairman Anthony Good said the company will issue shares equivalent to about 25% of the business, and expects to raise about $100 million.

Cox & Kings' Indian operations achieved revenues of around Rs 74 crore in 2008. The firm provided holidays for about 287,000 Indians in 2008.

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