Tesco Lotus raises $450 million from public investors

The Thai unit of UK supermarket chain Tesco has raised a total of Bt18.4 billion ($602 million) from the initial public offering of a property fund comprising 17 malls anchored by Tesco Lotus stores. However, 25%, of the deal was bought by Tesco-controlled Ek-Chai Distribution System, suggesting the property fund really only raised 75%, or Bt13.8 billion ($450 million) from public investors.