* Says Raymond James to be underwriter
* Says intends to apply for NYSE listing
Dec 21 Schottenstein Realty Trust Inc filed
with U.S. regulators on Tuesday to raise up to $517.5 million
in an initial public offering (IPO) of common stock.
The filing with the U.S. Securities and Exchange Commission
did not reveal how many shares the company planned to sell or
their expected price.
Schottenstein Realty Trust Inc, an operator of shopping
centers, said it will contribute the net proceeds of this
offering to an operating partnership with its consolidated
subsidiaries, including Schottenstein Realty L.P.
It expects the operating partnership to use part of the net
proceeds for the acquisition of equity interests in some
existing entities and joint venture properties.
About $250.0 million from the proceeds will be used for
repayment or defeasance of existing indebtedness, Schottenstein
said in a filing.
The company said Raymond James was underwriting the IPO,
and has applied for a listing of its stock on the New York
Stock Exchange under the symbol "SCRT".
(Reporting by Shailesh Kuber in Bangalore; Editing by Joyjeet