HNA Commercial Reit's IPO issue size estimated at S$775m

Singapore

THE upcoming listing of HNA Commercial Reit is expected to have an issue size of around S$775 million, of which Chinese conglomerate HNA Group's Shenzhen-listed associate plans to take up no less than 35 per cent stake to become its largest shareholder.

Based on regulatory filings with the Shenzhen Stock Exchange, HNA Investment Group Co Ltd will also own a 75 per cent stake in the Reit manager.

HNA Investment Group Co Ltd said in filings on June 17 that it has entered into an agreement with Singapore-based AEP Investment Management and the latter's C…