Bankrupt shopping mall owner General Growth Properties Inc
The owner and operator of regional shopping centers also said revenue and operating income improved sequentially. Its shares gained 1.7 percent in early trading to $11.74.
General Growth reported revenue of $216.8 million in November and operating income of $85.2 million. In October, it posted revenue of $215.0 million and operating income of $82.4 million.
After interest expense, reorganization costs and other items, its net loss was $6.4 million, or 2 cents per share, according to the filing, narrowing sequentially from $12.6 million, or 4 cents a share in October.
General Growth filed for bankruptcy protection in April, becoming the biggest real-estate failure in U.S. history.
Simon Property Group Inc
It has exclusive rights to file a plan of reorganization until February 26. The company's board is continuing to evaluate alternatives, including a public offering of General Growth equity, to reduce overall leverage and raise the capital necessary to emerge from bankruptcy in 2010.
The U.S. bankruptcy court this month approved the payment of a 19 cent-per-share dividend, up to 10 percent of which will be paid in cash, the rest in stock.
(Reporting by Nick Zieminski, editing by Maureen Bavdek)