LOTTE REIT’s $360 Million Initial Public Offering

Simpson Thacher advised the underwriters in connection with the initial public offering of LOTTE REIT Co., Ltd. on the KRX KOSPI Market.

LOTTE REIT Co., Ltd. completed its initial public offering on the KRX KOSPI Market, which included an international offering pursuant to Rule 144A and Regulation S.

The offering raised Won 423 billion (approximately $360 million) for the issuer, which would be used to help fund the purchase of real estate properties and engage in a series of related transactions.

Nomura Financial Investment (Korea) Co., Ltd., The Hongkong and Shanghai Banking Corporation Limited, Seoul Securities Branch and Korea Investment & Securities Co., Ltd. acted as underwriters for the offering.

This offering marks the first REIT deal in Korea with an overseas offering.

LOTTE REIT Co., Ltd. operates as a real estate investment trust company. The Company provides offices, housings, hotels, and other related areas, throughout South Korea.

The Simpson Thacher team for the offering included Jin Hyuk Park (Picture), Joongwon Park and Heesu Kim (Corporate – Hong Kong); Jonathan Cantor and Edward Grais (Tax); and Paul Dodd (Corporate – London).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Paul Dodd – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Heesu Kim – Simpson Thacher & Bartlett; Jin Hyuk Park – Simpson Thacher & Bartlett; Joongwon Park – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Nomura Financial Investment (Korea); The Hongkong and Shanghai Banking Corporation Limited;

Author: Michael Patrini