SK REIT pushing for stock market debut in Sept.

SEOUL, Aug. 5 (Yonhap) -- The real estate investment trust (REIT) unit of SK Group, South Korea's No. 3 conglomerate, said Thursday it is pushing for an initial public offering in September.

SK REIT said it has started the process of selling 46.5 million shares to investors as its registration statement filed with the financial regulator took effect.

Its public offering price has been set at 5,000 won (US$4.37) per share, with the company seeking to raise about 233 billion won through the IPO.

After a demand forecast session for institutions on Aug. 23-24, SK REIT will receive subscriptions from retail investors on Aug. 30-Sept. 1 before debuting on the stock market in September.

SK REIT said Samsung Securities Co. and Korea Investment & Securities Co. will jointly manage the stock sale.

REIT, which can be traded on major exchanges, invests in office buildings, apartments and hotels, and provides investors with dividends.

Last month, SK REIT completed the purchase of SK Group's headquarters office in central Seoul and bought a 100 percent stake in Clean Energy REIT, which has purchased SK Energy Co.'s gas stations.

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