APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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Equity Capital Markets

Lotte Shopping Co / Equity Capital Markets

<p>Shin Dong-Joo is looking to sell 5.5% of <a href="https://www.smartkarma.com/entities/2338" target="_blank" data-smartkarma-citation="entities:2338:1">Lotte Shopping Co (023530 KS)</a> which amounts to US$337m (KRW384bn). This is the first ever sell-down in Lotte Shopping. Post sale, Shin Dong-Joo will hold 8% of Lotte Shopping.</p><p>The deal scores negatively on our ECM framework owing to its poor track record of earnings and its high leverage in comparison to peers. However, we think that the sale may pave the way for a faster restructuring of Lotte Shopping and <a href="https://www.smartkarma.com/entities/16050" target="_blank" data-smartkarma-citation="entities:16050:1">Lotte Confectionery Co Ltd (004990 KS)</a> into a…</p>

Shin Dong-Joo is looking to sell 5.5% of Lotte Shopping Co (023530 KS) which amounts to US$337m (KRW384bn). This is the first ever sell-down in Lotte Shopping. Post sale, Shin Dong-Joo will hold 8% of Lotte Shopping.The deal scores negatively on our ECM framework owing to its poor track record of earnings and its high leverage in comparison to peers. However, we think that the sale may pave the way for a faster restructuring of Lotte Shopping and Lotte Confectionery Co Ltd (004990 KS) into a…

Lotte Shopping Placement - Shin Dong-Joo Sells Shares for the First Time