SINGAPORE (Dec 2): Far East Consortium International, the Hong Kong developer, is considering a REIT in Singapore that could raise as much as $500 million, people with knowledge of the matter said.
The company is working with advisers on the potential sale of trust units backed mainly by hotels under the Dorsett brand, the people said. The IPO could take place as early as the first half of 2020, according to two of the people, who asked not to be identified because the details are private.
In a Hong Kong stock exchange filing on Nov 28, the company confirmed it is mulling a “potential spinoff and separate listing of certain hospitality properties” on an overseas securities exchange. The assets are in Australia, Singapore, Malaysia and the UK, it said.
