EQUITIES: Axis Islamic REIT IPO targets US$700m

Axis Global Islamic REIT is in talks with potential cornerstone investors and will aim to raise around US$700m from a Malaysian IPO in the second quarter. The original plan was to include assets from Japan, Australia and Hong Kong., but this may change as a result of last week’s earthquake and tsunami. CIMB and Standard Chartered are joint global co-ordinators, with Credit Suisse and Maybank as joint bookrunners.

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