CNG flotation to raise $32.5m

CNG TRAVEL, the Kenmare-based online hotel booking company, is expected to be valued at $120-$140 million when it floats on London's Alternative Investment Market (AIM) next month.

CNG's prospectus, released yesterday evening, reveals it will raise $32.5m in equity from the sale.

The company's stockbroker, Evolution Beeson Gregory, expects the company to be valued at $120-$140m when the initial public offering takes place next month.