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Lotte Shopping investor plans up to $352 mln share sale -IFR
February 16, 2017 / 9:04 AM / 9 months ago

Lotte Shopping investor plans up to $352 mln share sale -IFR

HONG KONG, Feb 16 (Reuters) - Shin Dong-Joo, the elder brother of Lotte Group Chairman Shin Dong-bin, plans to sell up to $352 million worth of shares in Lotte Shopping Co Ltd , IFR reported on Thursday, citing a term sheet of the deal sent to investors.

The sale consists of 1.73 million shares offered at an indicative price range of 222,000 won ($194.84) to 232,000 won each, said IFR, a Thomson Reuters publication.

The price at the low end of the range is equivalent to a discount of 12.6 percent to the stock’s Thursday close of 254,000 won.

A spokesman for Shin in Seoul declined to comment. ($1 = 1,139.3700 won) (Reporting by Fiona Lau of IFR; Additional reporting by Joyce Lee)

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