(Updates to add Mapletree's response)
Singapore state-backed Temasek-owned Mapletree Investments has identified banks for an initial public offering of its assets, with a view to raise at least SG$1 billion, Bloomberg reported Wednesday, citing people familiar with the matter.
The real estate company has selected Citigroup, DBS Group (SGX:D05) and Morgan Stanley to work on the planned listing, which is expected to take place as soon as next year, the report said.
The company has not yet determined which specific assets will be included in the IPO, and additional banks are expected to join the syndicate later.
Mapletree told MT Newswires it does not comment on market rumors, while Citigroup, Temasek and DBS declined to comment. Morgan Stanley did not immediately respond to a request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
