Chinese retail mall owner Beijing Hualian Group (BHG) has launched pre-marketing for an initial public offering that could mark Singapore's first Real Estate Investment Trust (Reit) listing of the year
DBS is sole sponsor for the IPO, which is being marketed under the name of BHG Retail Reit
The bank has assigned a fair value of S$331 million to S$402 million ($236 million to $287 million) to the Reit, equating to a 2016 forecast price to book valuation of 0 84 to 1 03 times
Pre-marketing will continue until November 10, with formal roadshows provisionally scheduled for November 16 to 20 and a target listing date of December 2
Rising interest rates...