Rendered image of Jeju Dream Tower Resort. [Photo provided by Lotte Tour Development Co.]
South Korea’s Lotte Tour Development Co. said Wednesday it is planning a five-day IR road show in Hong Kong and Singapore on Aug. 13-17 to attract foreign investors for recapitalization scheme.
Earlier, the company said it seeks to raise capital to complete a new resort compelx in Jeju island through rights offering worth 240 billion won ($215 million). Mirae Asset Daewoo, the sole lead-manager of Lotte Tour Development’s offering, and Singapore-based global investment company CGS-CIMB Securities are in charge of the IR event.
The new Jeju Dream Tower is 38-story 169-meter high twin skyscrapers under construction in Jeju Island. Once the construction finishes in October 2019 as planned, it would be the tallest in Jeju Island, almost twice the height of Lotte City Hotel Jeju, and the largest commanding a floor area of 303,737 square meters.
By Shin Ik-su and Lee Ha-yeon
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