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S.Korea's Lotte Shopping postpones up to $1 bln Singapore REIT listing
May 2, 2014 / 3:15 AM / in 3 years

S.Korea's Lotte Shopping postpones up to $1 bln Singapore REIT listing

SEOUL, May 2 (Reuters) - Lotte Shopping Co Ltd, South Korea’s largest department store chain owner, said on Friday it is postponing the listing of an up to $1 billion real estate investment trust (REIT) in Singapore.

The company said in a regulatory filing it could consider the option again if global financial market conditions improve in the future, but is currently considering a sale & lease back deal through a local public real estate fund as an alternative.

The marketing for the listing had been delayed as concerns about economic growth in China and other emerging markets triggered a sell-off in riskier assets, reducing investor appetite for emerging markets. (Reporting by Joyce Lee; Editing by Edwina Gibbs)

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