JD.com (JD) and its partners have chosen financial advisers including Bank of America (BAC) and UBS Group (UBS) for an initial public offering of their Singapore-based real estate investment trust, Bloomberg News reported Tuesday citing people familiar with the matter.
The IPO could raise about SG$1 billion ($775 million), according to the report.
The Trust will feature the Southeast Asian assets of JD Property, Swiss investment firm Partners Group Holding and EZA Hill Property Management, the people reportedly said.
JD.com, Bank of America and UBS Group did not immediately respond to MT Newswires' request for comment on the matter.
(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.)
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