Emerging markets sell-off may delay $1.27b Lotte real estate IPO in Singapore
Published on Feb 5, 2014 12:42 PM
SINGAPORE (Reuters) - Lotte Shopping Co, South Korea's biggest shopping mall owner, will decide this week whether to start marketing a US$1 billion (S$1.27 billion) real estate investment trust or delay it due to the sell-off in emerging markets, people with knowledge of the matter said on Wednesday.
If Lotte Shopping decides to launch the mall Reit, the marketing process could start as early as Monday. The company already has the approval of the Singapore Stock Exchange to list the Reit, the sources said.
"The markets are quite challenging," said a person with direct knowledge of the deal. "We are waiting for the right window."
A Lotte spokesman in Seoul declined to comment on the timing for the Reit. The sources also declined to be identified because the details of the IPO were not yet public.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!