Tesco on Monday started pre-marketing for an initial public share offer to raise around USD 500 million (GBP 317.36 million) by placing some of its shopping centres in Thailand into a listed fund. According to Reuter;s IFR publication, it is expected to be the biggest IPO in Thailand in more than five years, with the sale scheduled to be priced on 5 March.
The world’s third biggest retailer has announced plans to float its property assets in Thailand. Tesco Plc could use the move to highlight the value of its international business to investors, having already had an appraised value of over 14 billion Thai baht (GBP 293 million)for the property fund, which would include 15 shopping malls anchored by a Tesco Lotus hypermarket.
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