Books open for Singapore’s first IPO with renminbi tranche

Dynasty Reit is seeking up to $777 million through the offering, which will also have a Singapore dollar tranche.

Books open for Singapore’s first IPO with renminbi tranche

Dynasty Real Estate Investment Trust will kick off the institutional bookbuilding today for Singapore’s first initial public offering with a tranche denominated in offshore renminbi. The issuer, which is sponsored by Li Ka-shing-backed ARA Asset Management, is looking to raise up to S$955 million $777 million, sources said yesterday.

If successful, that will make it the largest new listing in Singapore so far this year ahead of Far East Hospitality Trust, which raised $527...

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