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Singapore's Ara Asset Management mulls dual listing in 2-3 years

John Lim, CEO and co-founder of Ara Asset Management Ltd., said a dual-market listing is "a likely scenario" for the Singapore-based real estate fund manager in the next two to three years, Reuters reported.

The company's home city will definitely be one of the venues for the offering, Lim noted, adding that other options include Shanghai, Hong Kong, London and the U.S.

According to the executive, he expects a valuation of between S$4 billion and S$5 billion for the company upon its listing, with a plan in place to grow its assets under management to S$100 billion within two years.

Ara Asset Management, which lists CK Asset Holdings Ltd. and Straits Trading Co. Ltd. as among its investors, manages 21 public and private real estate investment trusts across the Asia-Pacific region, as well as more than 70 private funds. One of the companies it manages is Singapore-listed ARA US Hospitality Trust, which owns 38 luxury hotels across the U.S., the Sept. 17 report added.

As of Sept. 18, US$1 was equivalent to S$1.37.