27 Aug '16, 3am

Do you know what is Green Shoe Option?: Recently, Lippo Malls Indonesia Retail Trust (LMIR Trust) announced that…

Recently, Lippo Malls Indonesia Retail Trust (LMIR Trust) announced that they have obtained up to S$350 Million term loan facilities with a Green Shoe option of up to S$70 million. The proceeds will be used to fund acquisitions and refinance existing debt. The term “Green Shoe Option” caught my eye. Initially, I thought it was the name of a new mall Lippo is planning to acquire, however upon further reading into the announcement, it doesn’t seem so. What is a Green Shoe Option? The following was found after I googled for the term “Green Shoe Option”. A greenshoe is a clause contained in the underwriting agreement of an initial public offering (IPO) that allows underwriters to buy up to an additional 15% of company shares at the offering price. The investment banks and brokerage agencies (the underwriters) that take part in the greenshoe process have the ability to exercise...

Full article: http://thefinance.sg/2016/08/27/do-you-know-what-is-green...

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