Bankers on Friday started pre-marketing of Far East Reit, a hotel-focused real estate investment trust that is aiming to raise about S$700 million $557 million from an initial public offering in Singapore.
The trust is sponsored by Far East Organisation, which is owned by the Ng family and is the biggest private property developer in Singapore. The same family also owns the Hong Kong-based Sino Group.
According to the current timetable, the pre-marketing is expected to continue until August 3. The institutional roadshow will run from August 6 to 15 and the listing is scheduled for August 27.
At the time of listing, Far...