Weak IPO appetite in Singapore delays Lotte Shopping's $1b REIT listing
Bosses reveal Plan B.
Lotte Shopping Co Ltd said it is postponing the listing of an up to $1 billion real estate investment trust in Singapore, underscoring lacklustre appetite for IPOs in the city state, according to Reuters' report.
The operator of South Korea's largest department store chain said in a regulatory filing it may reconsider the option if global financial market conditions improve, but is currently looking at a sale and lease back deal through a local public real estate fund as an alternative.
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