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Financials

S.Korea's Homeplus to drop REIT IPO plan

SEOUL, March 14 (Reuters) - Private equity-controlled South Korean hypermarket chain Homeplus Co Ltd said on Thursday that it has decided to pull out of its plan to list a real estate investment trust (REIT).

Homeplus said it had aimed to raise up to 1.7 trillion won ($1.50 billion) from the listing, but demand from overseas investors fell short of expectations.

South Korea’s private equity firm MBK Partners bought Homeplus from Tesco PLC for $6.1 billion in 2015. ($1 = 1,131.1000 won) (Reporting by Hyunjoo Jin; Editing by Michael Perry)

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