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South Korea-based store Lotte Shopping eyes $1b IPO in Singapore
Properties are yet to be revealed.
According to Bloomberg report, Lotte Shopping Co., South Korea’s largest department store operator, is planning an initial public offering in Singapore of some of its shopping malls, said two people with knowledge of the matter.
The sale may raise at least $1 billion and could take place as early as this year, said the people, asking not to be identified as the process is private. The company is still deciding which properties it will include in the sale, which will either be in the form of a business trust or a real-estate investment trust, the people said.
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