Upcoming IPO: Hospitality REIT

Upcoming IPO: Newswires says Ascendas Group is seeking to list its proposed US$500m hospitality REIT in Spore in early-to-mid June. The group--which is owned by JTC Corp --has received eligibility to list the REIT from the SGX and is currently meeting cornerstone investors. However, the timing of the listing is dependent on market conditions. The listing would incorporate hospitality assets such as hotels in various countries, incl Australia and Japan, and the assets could potentially be worth up to US$1b. HSBC, Nomura and StanChart are managing the deal.