Korea's Lotte defers S'pore Reit IPO

Seoul

LOTTE Shopping Co Ltd said it is postponing an up to US$1 billion real estate investment trust (Reit) listing in Singapore due to unfavourable market conditions, the second large initial public offering (IPO) to be pulled in Asia this week.

Volatile equity markets this year have helped undermine sentiment for some of the region's less attractive listings, but Asia-Pacific IPO markets as a whole are still expected to have an upbeat 2014. Issuance for the year so far has doubled to US$15.4 billion over the same period a year earlier.