Indiabulls Properties price range at $1-$1.1

Indiabulls Properties price range at $1-$1.1 

  

Indiabulls Properties Investment Trust has set a price range of a dollar to a dollar ten cents per unit in its Singapore initial public offering that will raise up to 389 million dollars.

 

a person familiar with the matter told Dow Jones Newswires that the the IPO, which will fund the purchase and development of Indian real estate, is expected to price next week.

 

According to a listing prospectus, the trust will be managed by India-listed development firm Indiabulls Real Estate, which intends to hold a post-IPO stake of 42.8 percent.

 

The trust’s initial investments will include two commercial development properties in Mumbai, and future projects will focus on commercial office space.

 

Merrill Lynch and Deutsche Bank are co-managers of the offering

 

Source: 938Live

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