OUE

OUE: Newswires say OUE has started testing investors' appetite for an IPO in Singapore of its local and overseas commercial assets that could raise as much as US$500m. OUE, which is a developer of office and hotels is controlled by Indonesia's billionaire Riady family, is seeking to offer a yield of 6.8% pa and is aiming to list the REIT by end of Jan. The IPO, if successful, will be the first listing in Singapore for this year and would add to Singapore's profile as a destination for trust listings. Assets the commercial REIT are said to include office and commercial properties in Hong Kong and China. The Riady family controls the Lippo Group--one of Indonesia's most powerful conglomerates with interests in real estate, publishing and banking. Stephen Riady, a son of Lippo founder Mochtar Riady, is executive chairman of both OUE and Lippo China Resources.