Cuban property fund Ceiba Investments is seeking a listing on the London Stock Exchange's specialist fund segment with its backer, Standard Life Aberdeen PLC, d/b/a Aberdeen Standard Investments, looking to raise £100 million in capital, Citywire reported, citing the company.

With about £130 million of assets, Ceiba is the largest fund investing exclusively in Cuba. It aims to use proceeds from the fundraising to revamp and expand its hotels.

The fund, which is fully funded with equity, plans to register a minimum 4% fully covered dividend yield yearly.

If the listing goes through, the company will designate Aberdeen as its fund manager. Ceiba has engaged Broker N+1 Singer to coordinate the share issuance and broker the fund to investors, the July 5 report added.

Additionally, other overseas property companies making the move to London include South African real estate company Stenprop Ltd., which secured a dual listing in the British capital and Johannesburg, and Grit Real Estate Income Group, which is seeking at least US$140 million from its listing.