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Mantra’s ASX debut higher than expected

Mantra go public at ASX Sydney

Mantra Group Limited has today (June 20) listed on the Australian Securities Exchange, debuting on the bourse under the ASX code MTR at AUD$1.85 per share compared to its IPO price of AUD$1.80 per share.

Mantra Group CEO Bob East said the positive response from the market was an endorsement of Mantra’s strong team and the strategy they had put in place for future growth.

“This is a great day for Mantra Group team members, our loyal customers and property owners because our listed status and access to capital provides us with the ability to roll out our strategic growth plans,” East said.

“We are already Australia’s second-largest accommodation provider with more than 11,600 rooms and we have a strong development pipeline aimed at delivering the great service experience our customers have come to expect from Peppers, Mantra and BreakFree in even more locations across Australia, New Zealand and South East Asia.

“I am pleased to see the positive reception the Mantra Group has received from the investment market.

“Our new shareholders include a strong representation of blue-chip Australian investment institutions and we are looking forward to welcoming many retail investors into ownership of the company.

“I am proud of what the Mantra Group team have achieved to date and I am excited about this next phase in the Mantra story,” East said.

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