Source : The Business Times, September 19, 2007
MUMBAI/HONG KONG - A sister firm of Indian developer DLF has hired bankers to arrange a property trust IPO in Singapore, a company official said on Wednesday, in a deal worth as much as US$2 billion.
The planned real estate investment trust (Reit) by DLF Assets would be the second such offering on the Singapore stock market from India's booming property market, following the popular July IPO by Ascendas India Trust.
A top DLF official, who asked not to be identified, said Goldman Sachs and Lehman Brothers were advising the company on the deal but declined to give further details.
The IPO would raise about US$2 billion, India's Business Standard newspaper reported on Wednesday.
A banking source said 'a lot of work' was being done on preparing the IPO, but it was too early to put a figure on the deal, which is unlikely to be launched until next year.
DLF Assets, founded by DLF chairman KP Singh, owns property in special economic zones and IT parks. -- REUTERS
Subscribe to:
Post Comments (Atom)
.jpg)
No comments:
Post a Comment