Yuan REIT – BT

ARA eyeing yuan Reit listing in S’pore

ARA Asset Management Ltd, part-owned by Hong Kong billionaire Li Ka- shing’s Cheung Kong (Holdings) Ltd, said it is considering the listing of what would be Singapore’s first yuan-denominated property trust.

‘One of the opportunities which the company is exploring includes the possible establishment and listing of a yuan-denominated real estate investment trust (Reit) with assets located in the People’s Republic of China,’ ARA said in a stock market filing.

Sources familiar with the deal said Citigroup, DBS Group and Standard Chartered have already started working on the planned listing. Citi and DBS declined to comment while Stanchart could not be reached.

Dow Jones said in a Tuesday report that ARA will inject Chinese properties now held by its unlisted Dragon Fund II into the Reit. — Reuters