Perennial China Retail Trust is seeking to re-launch its initial public offering (IPO) in Singapore and may raise around $681 million, The Wall Street Journal reports. The company has also resubmitted its prospectus to the Monetary Authority of Singapore.
As a part of the offering, Perennial will offer up to 1.12 billion shares at a price range of $0.56-0.61 per unit. The will offer up to 577 million units to institutional investors and public, while 516.7 million units will be tendered to cornerstone investors. Citigroup, DBS, Goldman Sachs and Standard Chartered Bank are handling the offering.
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