March 14, 2019 / 1:10 AM / 6 months ago

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below