20 Apr '11, 9am

#singapore news: Philippine giant to take China malls public: MANILA: Philippine shopping mall giant SM Prime Ho...

#singapore news: Philippine giant to take China malls public: MANILA: Philippine shopping mall giant SM Prime Ho...

MANILA: Philippine shopping mall giant SM Prime Holdings said on Wednesday that it hoped to raise $500 million by taking its expanding China operations public. The company, which operates three malls in China and is planning to construct four more there by 2013, said in a disclosure to the Philippine Stock Exchange that it could make the offering in China, Hong Kong or Singapore. In its disclosure, SM Prime Holdings confirmed press reports quoting its chief financial officer Jeffery Lim about the planned offering. "Lim reiterated that the company plans to take its China malls public either through a traditional initial public offering in China, Hong Kong or Singapore or through a real estate investment trust offering in Hong Kong or Singapore." It hopes to earn $500 million by 2013 through this offering although this will depend on the valuation of its assets that time, th...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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