Citing people familiar with the process, Dow Jones Newswires said Far East Consortium is planning to raise as much as US$400 million ($546 million) through the initial public offering of a real estate investment trust.
The group is said to have started preliminary work for a listing on SGX, Dow Jones said.
In a HKEX filing, Far East Consortium on Thursday confirmed it is studying a “potential spinoff and separate listing of certain hospitality properties” on a securities exchange outside of Hong Kong.
The REIT would comprise of hospitality assets in Australia, Singapore, Malaysia and the UK, it added in the filing.
According to Bloomberg, Far East Consortium is working with advisors on the potential sale of trust units backed mainly by hotels under the Dorsett brand.
Citing people with knowledge of the matter, Bloomberg said the IPO could take place as early as the first half of 2020.
