Singaporean urban development solutions provider ASCENDAS-Singbridge Group, jointly owned by investment company Temasek Holdings Pte and real estate company JTC Corp, is planning a Singapore real estate investment trust (Reit) initial public offering (IPO).
The listing, backed by recently acquired U.S. office properties, could secure approximately $500 million.
The firm is working with advisers on the planned deal. Deliberations about a possible initial public offering are at an early stage.
The initial public offering could take place as early as the first quarter.