HNA's former Singapore partner said to revive IPO work

SINGAPORE (Jan 26): AEP Investment Management has resumed work on a long-delayed Singapore initial public offering of its property assets after Chinese conglomerate HNA Group Co. terminated its participation in the listing, people familiar with the matter said.

Singapore-based AEP held talks with advisers this week about preparing to list the property trust later in 2018, according to the people. It plans to seek a market value of as much as $600 million and aims to list around the second quarter, though the timeline could slip, the people said, asking not to be identified because the details are private.

Credit Suisse Group AG and Oversea-Chinese Banking Corp. are in discussions to lead the offering, the people said. DBS Group Holdings, which previously had a senior role, is no longer part of the underwriting group, according to the people.

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