Brookfield Picks Banks for $500 Million REIT IPO in India
- A listing in Mumbai could happen as soon as end of this year
- REIT listings are picking up in India after change in rules
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Brookfield Asset Management Inc. has picked banks for an initial public offering of its India real estate investment trust that could raise at least $500 million, according to people familiar with the matter.
The Canadian asset manager has selected Bank of America Corp., Citigroup Inc. and Morgan Stanley to arrange the REIT offering, said the people, who asked not to be identified as the information is not public. A listing on the Mumbai stock exchange could happen as soon as the end of this year, the people said.