Dynasty REIT launch yuan-denominated Singapore IPO
SINGAPORE Oct 10 (Reuters) - Dynasty Real Estate Investment Trust, which owns Chinese assets, on Wednesday filed the prospectus for what will be Singapore's first yuan-denominated initial public offering.
Dynasty, which is managed by a unit of property fund manager ARA Asset Management, is offering 893.9 million and 901.3 million units to investors at 4.40 to 4.70 yuan a unit.
Including units taken up by cornerstone investors and another ARA unit, Dynasty will sell a total of 1.15 billion units, valuing the IPO at up to 5.41 billion yuan.
DBS Group and Standard Chartered are joint financial advisers for the deal. ($1 = 6.2878 Chinese yuan) (Reporting by Kevin Lim; Editing by Ron Popeski)
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