South Korea's Lotte Shopping to raise up to $1 billion: IFR
SINGAPORE (Reuters) - South Korea's Lotte Shopping Co. Ltd. (023530.KS) is looking to raise $800 million to $1 billion by listing a real estate investment trust (REIT) in Singapore as early as this year, IFR, a Thomson Reuters publication reported.
DBS (DBSM.SI), Goldman Sachs (GS.N), Nomura (9716.T) and Standard Chartered (STAN.L) have been hired to manage the IPO. The initial portfolio is likely to consist solely of Korean properties, but Singapore is viewed as a more liquid REIT market than Seoul. The portfolio and currency are yet to be decided, IFR reported.
This will be the first Korean REIT listing on the Singapore bourse.
Lotte Shopping could not be reached for immediate comment by Reuters.
(Reporting by Daniel Stanton of IFR; Writing by Anshuman Daga; Editing by Jeremy Laurence)
WASHINGTON - The Federal Reserve on Wednesday embarked on the risky task of winding down the era of easy money, saying the U.S. economy was finally strong enough for it to start scaling down its massive bond-buying stimulus. | Video
WASHINGTON - Start-up companies will be able to raise much more capital through certain public stock deals without facing costly regulatory burdens under a proposal announced by U.S. securities regulators on Wednesday.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.