SINGAPORE Oct 10 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)