DLF Assets eyes $1.2 billion Singapore listing

The founders of Indian realty DLF Ltd aims to list their real estate investment trust DLF Assets in Singapore by June next year to raise $1.2 billion, the Financial Express newspaper reported on Thursday.                                           

The move is based on an assessment the Singapore market has began to improve, it said, quoting unidentified company officials.                                           

DLF Assets buys commercial property from DLF Ltd and collects lease rentals from it, the paper said, adding it has began talks with investment bankers for the listing.                                           

A spokesman for DLF Ltd told Reuters the company would not comment on market speculation.                                           

DLF Asset's Singapore listing was shelved last year, following a global equities slide.