Babcock & Brown planning IPO for Singapore fund
As part of its strategy to expand its global investment portfolio, Australian investment bank Babcock & Brown has unveiled plans for an initial public offering for a fund in Singapore.
A proposal has been lodged with the Monetary Authority of Singapore for Babcock & Brown Structured Finance Fund (BBSFF). The fund is anticipated to start trading on the Singapore Exchange by the end of December 2006, holding rail, aircraft and energy assets. The expansion is designed to help steer the group away from its reliance upon Australian investors to take advantage of opportunities to buy assets in Asia, the US and Europe. A total of $253 million has been spent on acquiring aircraft, rail, loan books and renewable energy assets for the fund, but the size of the offer has not been disclosed.
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