Lotte REITs Rights Offering with Lotte Mulsan Participation... 67 Billion KRW Scale
Lotte Property & Development announced on the 24th that it will participate in the paid-in capital increase conducted by its affiliate, Lotte Entrusted Management Real Estate Investment Company (Lotte REITs).
The number of shares to be invested is 18.4 million, with an investment amount of 66.976 billion KRW. This accounts for about 40% of the total paid-in capital increase amount of Lotte REITs (164 billion KRW).
The first issuance price confirmed on the 23rd is 3,565 KRW per share, and after the investment, Lotte Property & Development's stake in Lotte REITs will be 6.4%.
The company stated, "The investment amount may vary depending on the final issuance price to be confirmed later." Regarding the purpose of the investment, it said, "It is to enhance business-related synergy and secure investment returns."
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Earlier, on the 11th, Lotte REITs decided on a rights offering paid-in capital increase to raise operating funds (2 billion KRW) and debt repayment funds (162 billion KRW).
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