ByJonathan Burgos,
Forbes Staff.
Bangkok-listed Minor International—controlled by billionaire William Heinecke—said it aims to raise $1.5 billion by listing in Singapore a hotel real estate investment trust (REIT) in the first quarter of 2026.
The IPO would help reduce the company’s debts and bankroll expansion plans as the hotel and restaurant operator taps the post-pandemic travel boom, Heinecke, 76, said in an interview on the sidelines of the Forbes Global CEO Conference held in Jakarta last week.
Minor plans to inject some hotels into the REIT as it pursues an asset light strategy, Heinecke said. “We’re transferring some of our heavy assets into a REIT and we’ll still be a major shareholder of that REIT,” said Heinecke, chairman of the company.
