[Korea gimeunji financial newspaper reporter] E-Land Retail promote re-listed after separating the subsidiary Highlands Park. E-Land group is open three days a press conference at Yeouido, Seoul Hotel Kensington told reporters in connection with E-Land Retail IPO delay.
E-Land Group is a policy that we pursue proactive corporate structure after the reorganization of listed separating the Highlands secured for funds to sell the retail equity 600 billion won, the financial structure and achieve a credit rating stable first hand, including a subsidiary of E-Land Retail Highlands Park.
Wednesday Lee Gyujin E-Land Group CFO said, "but the effort has authenticity to solve the Highlands Park catering business issues traded procedure continues delayed" while "passive move to preemptively, leadership, rather than respond, waiting for actively promoting public company value will be properly evaluated, "he said.
E-Land Retail is a bar for a preliminary examination claims listed on the Korea Stock Exchange in December as distribution subsidiary, which holds the total revenue Article 5, 53 points nationwide. Eland has predicted that this fast-track magnetic Capital and revenue (simplified public examination) formal requirements are to be met as early as the IPO completed in May.
But while E-Land Retail is a lively issue in the Highlands Park, which owns a stake in a subsidiary are deferred up to the review planned for Korea Exchange Listed preliminary examination and approval procedures were continued listing delay.
The E-Land is listed in the short term the IPO by selling separate subsidiary issues were promoted, and actively break through the front of the current situation, at the same time to address the liquidity issues and long term plans to challenge the credit rating.
First, Eland is funded as part of the 600 billion stake in E-Land Retail. To this end, the underwriter of securities and the Eastern Partners Curious is underway to attract outside investors and the investment structure consultation.
It comes to solving the repaid funds through the sale of convertible preferred shares (RCPS) 3000 billion in the E-Land Retail and E-Land World is a massive corporate structure is reorganized to buy the shares held by Highlands Park E-Land Retail.
Eland is through this restructuring E-Land Retail is the consolidated net income significantly improved, and reported to be completely cut off from the group risk.
Inde year net profit of 130.2 billion, while Eland Eland Retail parks owned subsidiary of E-Land Retail Consolidated net income integration is off to a 74.3 billion was significantly undermine the value traded. Therefore, the outlook is going up significantly after the IPO traded value during a single separate subsidiary.
Eland official said, "Through this deal would be to attempt the biggest corporate structure changed since the establishment," he said, "would pour across the enterprise so that the force can soon lead to a financial restructuring completed in the credit rating."
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