Chinese mall business trust seeks S'pore IPO

A BUSINESS trust holding three shopping malls in a city in China's Guangdong province is seeking to raise 586.4 million yuan (S$122.5 million) through an initial public offering on the Singapore Exchange mainboard.

Dasin Retail Trust lodged a preliminary prospectus on Wednesday night, without indicating pricing or the number of units that would be in the retail and placement tranches. Its sponsor is Zhongshan Dasin Real Estate, which develops property in Zhongshan city in Guangdong.

The trust's initial portfolio contains Xiaolan Metro Mall, Ocean Metro Mall and the Dasin E-Colour shopping mall, all of which are in Zhongshan.