August 16, 2011 / 8:41 AM / 9 years ago

CORRECTED-Malaysia Parkson eyes up to S$500 mln S'pore IPO for retail stores-source

(Corrects headline to show amount is in Singapore dollars)

SINGAPORE, Aug 16 (Reuters) - Malaysia department store operator Parkson Holdings is planning to list its retail operations in Singapore in an initial public offering worth up to S$500 million ($415.5 million) by the end of this year, a source with direct knowledge of the matter said.

Parkson, which operates a chain of 89 department stores, is expected to list its Malaysian, Indonesian and Vietnamese retail operations in the city-state for about S$300 million to S$500 million, the source told Reuters.

HSBC has been appointed the sole global coordinator for the IPO, the source said. HSBC was not immediately available to comment. The news was first reported on Tuesday by the Malaysian newspaper The Sun.

A spokesman for Parkson in Kuala Lumpur declined to comment on the deal, but added that the company will make an appropriate announcement in due course.

At 0749 GMT, shares of Parkson were 2.75 percent higher at 5.60 ringgit. ($1 = 1.203 Singapore Dollars) (Reporting by Charmian Kok, Additional reporting by Min Hun Fong; Editing by Muralikumar Anantharaman)

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