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SINGAPORE (Mar 21): Sasseur Real Estate Development Trust, is seeking to raise $396 million in an initial public offering in Singapore.
In its prospectus filed with the Monetary Authority of Singapore, the owner of retail malls in China said it has selling a total of 495 million units at 80 cents each.
The offering includes a public tranche of 13.8 million and a placement tranche of 252.8 million shares.
Over 46% has been taken up by a clutch of investors that include JD.com and Charles & Keith owner CKK Holdings.
Among cornerstone investors for the IPO include an investment holding firm formed by Asian tycoon Robert Yap, the chairman of logistics firm YCH Group and Bangkok Life Assurance PCL, whose major shareholders include Nippon Life and Bangkok Bank.
The company is forecasting a yield of 7.5% for this year.
Shares are likely to start trading on the Singapore Exchange on Mar 28.