Perennial China Retail Trust, a wholly-owned subsidiary of property-investment firm Perennial Real Estate, is planning to file a S$1 billion (US$780.6 million) IPO prospectus to the Monetary Authority of Singapore (MAS) this week.
A source familiar with the plan said Perennial intends to lodge and present the prospectus with the central bank. “If all goes as planned”, the presentation will likely start on Thursday, with the possible listing on 16 March, said the source.
If successful, the trust’s IPO will be the second largest IPO in the country, after the US$6 billion IPO of Hutchison Port Holdings Trust, which will be due next month.
“There are some clearances awaited” before the trust’s offering can proceed, according to another source familiar with the plans. “And as per the schedule, the listing could be a day or two ahead of Hutchison.”