Upcoming IPO

Upcoming IPO: M&L Reit is seeking to raise between $426 -463m in its planned IPO in Singapore, excluding an overallotment option.
This comes amid signs of a modest revival of corporate interest in tapping Singapore's capital markets, and, if successful, would be the second sizable offering here this year (after Bumitama Agri ) and signal an opportunity for other companies to follow suit.

The Singapore-based trust, which will manage a portfolio of hotels, has set an indicative price range of $0.80 - 0.87 per unit, and is likely to start roadshows for the offering on Friday. Its market cap could range from $784 - 842 m.

M&L plans to file a prospectus for the IPO with the MAS, ahead of a planned listing date in early May.

The trust's portfolio would include hotels in Australia, Japan and Singapore--including Sydney's Sheraton Four Points and the Ibis Singapore.

M&L doesn't plan to raise fresh capital within 12 months of the listing.
DBS Group, JP Morgan and UBS are handling the IPO