Brookfield Finalizes 3 Banks for Initial IPO

Brookfield Asset Management has reportedly finalised three banks for the initial public offering (IPO) of its real estate investment trust (REIT) in India. The Canadian company has picked Morgan Stanley, Citigroup and Bank of America to arrange the REIT offering, which is expected to raise at least $500 million. The move however comes after a string of successful REIT listing in India by Mindspace Business Parks which raised $354 million, and Embassy Office Parks in 2019. The method has opened another pathway to funding for the strapped property sector.