Property developer Ascendas is seeking to raise $300-400 million
by listing its three Shanghai commercial properties in Hong Kong, Reuters reports. The Singapore firm will list its assets in the form of a yuan-denominated real estate investment trust. BNP Paribas and BOC International will serve as joint book-runners for the deal. Ascendas currently has two REITs listed in Singapore, the Ascendas India Trust and the Ascendas Real Estate Investment Trust.
Click here for the story from Reuters.
Click here for additional coverage from Channel News Asia.