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IPO Monitor for the week ending April 6


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IPO Monitor for the week ending April 6

Editor's note: The IPOMonitor is a feature that tracks international real estate companies debutingon the exchanges.

South Korea

HotelLotte could delay itsplanned listing on the South Korean bourse until June in a possible effort toincrease its valuations, according to an April 6 report from The Korea Herald.

Thelodgings and duty-free sales unit of Lotte Group is believed to be awaiting agovernment announcement concerning new licenses, according to market sources.The report said if the company is successful in getting a license for itsduty-free store in Jamsil, in southern Seoul, it would have a "majorimpact" on its valuation.

HotelLotte's IPO planshave been in the works since August2015, and the firm received preliminary from the South Korean stockexchange in January for its listing application, as reported earlier. The IPOwas previously planned to proceed as early as May.

Anofficial from Lotte Group told the publication that the group is unsure of theimpact the new license could have on Hotel Lotte, and that the IPO will takeplace during the first half, as planned. The IPO size and price range are yetto be decided, another official was reported to have said.


the offer period forits IPO to untilApril 8 from the scheduled April 1 closing.

Thecompany's planned listing on the Mercato Telematico Azionario will close at 2p.m., local time, subject to potential acceleration. Borsa Italiana SpA servesas the organizer and manager of the IPO.

Coima Res originally intended the IPO to run between March18 and April 1, with the institutional placement to be held between March 17and April 1. It planned to offer at least 30 million new shares at €10 apiece,with proceeds slated to be used for the acquisition of Vodafone Village complexin Milan and to implement its investment strategy.

The group had been mullingan IPO since January, along with Idea Res, but the plans were owing to poor marketconditions.


'board proposed 11resolutions at the company's scheduled May 5 shareholders' meeting, including aproposal to convert into a SOCIMI and a related merger.

Accordingto a notice to shareholders, the board has proposed the examination of theplanned conversion,which, if approved, will see the company change its name and amend, as well aspass additional by-laws.

Hong Kong

Chinesedeveloper Jiayuan InternationalGroup said March 30 that CCB International Capital Ltd. fullyexercised itsoverallotment option for the company's in Hong Kong.

On behalf of the international underwriters, CCB Internationalsubscribed for an aggregate of 67,500,000 shares, or 15% of the total number ofthe offer shares available under the global offering prior to the exercise ofthe overallotment option.

Jiayuan issued the overallotment shares at HK$2.48 pershare. The company recorded around HK$167.4 million of additional net proceedsfrom the issuance of overallotment shares.

The company added that CCB International will use theoverallotment shares to return 67,500,000 shares that it borrowed from MingyuanInvestment under the stock borrowing agreement, which were used to coveroverallocations in the international placing.

Public shareholders will own approximately 27.7% of theissued share capital of the company, immediately after the allotment andissuance of the overallotment shares.

Further, Jiayuan gained the approval of the Hong Kong bourse'slisting committee for the listing and permission to deal in the overallotmentshares. Dealings in the overallotment shares on the stock market's main boardwere expected to start at 9 a.m., local time, on March 31.


Australia-based GPTGroup spinoff BGP Investments is reviving plans for a potential IPO or trade sale as itbenefits from a well-performing apartment market in Germany, The Australian reported.BGP previously considered an IPO on the Frankfurt Stock Exchange in .