June 20, 2013 / 5:33 AM / 4 years ago

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.

Shoppers are seen through the glass windows at a Lotte Shopping mall in Seoul October 20, 2009. REUTERS/Lee Jae-Won

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

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