SINGAPORE (Dec 10): Bloomberg reported on Nov 16 that Ascendas-Singbridge Group was “mulling” a US$500 million ($684 million) IPO of a recently acquired US portfolio. The Edge Singapore understands that Ascendas-Singbridge is looking to raise as much as US$600 million in an IPO, most likely in February 2019, after Manulife US REIT and Keppel-KBS US REIT have announced year-end results. Both real estate investment trusts are likely to test their recently internally restructured REITs to shield distributable income from the new US tax act implemented in December 2017.

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