Ascendas: Property developer Ascendas Group plans to raise US$300-400m by listing its 3 Shanghai commercial properties in HK via a yuan-denominated Reit.
The deal would be the 2nd yuan-denominated IPO behind billionaire Li Ka-shing's Hui Xian Reit, which raised ~US$1.6b in Mar.
The co has hired JPM and StanChart as joint global coordinators for the offer, while BNP and BOC will act as joint bookrunners...
Ascendas already has two Reits listed in Spore, the Ascendas India Trust and the Ascendas Reit
Add that Wed's rate hike was more symbolic rather than a sign of further tightening. Maintains that China may turn neutral on monetary policy in 2H and expect no more hikes this yr if inflation starts to decline in the second half as expected.
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