Lotte Shopping Co announced that they are planning for an initial public offering. The company is planning to make an offering for some of its shopping malls located in Singapore. The sale is expected to raise at least US$1 billion. Lotte Shopping Co is still deciding on which properties will be included in the offering. The company is also determining if the offering will be in the form of a real estate investment trust (REIT) or a business trust.
Goldman Sachs Group Inc., DBS Group Holdings Ltd., Standard Chartered Plc and Nomura Holdings Inc were hired by Lotte Shopping Co to manage the public offering.
The US$1 billion will be the third largest offering in Singapore for this year. The first two were made by and Asian Pay Television Trust and Mapletree Greater China Commercial Trust. Business trusts and REIT's are one of the biggest fund raiser's in the Singapore IPO market. Last year, IPO's were able to raise US$4.6 billion for companies that filed for a public offering.
Join the Conversation