Wednesday, 10 October 2012 16:49
Posted by Muhammad Iqbal
SINGAPORE: A real estate investment trust backed by Hong Kong tycoon Li Ka-shing announced on Wednesday it hopes to raise around $800 million in a yuan-denominated initial public offering in Singapore.
The offer by Dynasty REIT will be the first yuan-denominated flotation in the affluent city-state and the second outside mainland China.
Dynasty REIT, which is sponsored by real estate fund manager ARA Asset Management Ltd, lodged its prospectus on Wednesday with the Monetary Authority of Singapore ...