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7 Days Inn Files for $100m NYSE Offering
Economy hotel chain 7 Days Group Holdings Limited submitted an application to the U.S. Securities and Exchange Commission on October 2 to raise up to $100 million in an initial public offering on the New York Stock Exchange under the symbol "SVN." The share price has not yet been disclosed.
7 Days Inn CEO Alex Zheng said in February 2008 said that the company had started making plans for its IPO and was considering a Nasdaq listing. The chain has announced plans to have 380-400 hotels by the end of 2009.
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