CHICAGO, IL— Strategic Hotel Capital (SHC) here has reportedly set its planned initial public offering at 16.3 million common shares, carrying a sales price of an estimated $15 – $17 per share. It was noted the upscale ownership/management company allowed the underwriters would have the option to buy another 2.4 million shares to cover over-allotments, in accordance with an amended offering filed with the U.S. Securities and Exchange Commission (SEC). The underwriters for the offering were identified in a Reuters report as including Goldman Sachs & Co., Deutsche Bank Securities, Banc of America Securities, Credit Suisse First Boston, Wachovia Securities and Raymond James. It bears noting the way was cleared for the SHC offering when the soon-to-be publicly held REIT reached settlement last week with Marriott International on several long-standing legal actions regarding competitive as well as financial issues.
