Russian conglomerate Sistema is planning to launch a second London listing of one of its subsidiaries in less than 12 months and has hired three banks to lead a $1bn (€782m) offering in its real estate business Sistema Hals.

Nomura, UBS and Deutsche Bank, which worked on Sistema's last flotation, the $3.3bn London listing of its telecoms business, Comstar, have been appointed to lead the deal, according to market sources.