CHICAGO — General Growth Properties Inc., the mall owner seeking to emerge from bankruptcy next year, will consider all offers for the company and may sell shares to the public to raise capital.

The board and management are evaluating options to reduce leverage and also “considering all indications of interest in the company,” Chicago-based General Growth said today in a statement.
General Growth, which owns Ala Moana Center and other malls in Hawaii, won permission this week from a bankruptcy judge to restructure about $10.25 billion in debt on some of its properties. The company is trying to restructure $3 billion of additional secured debt, while competitor Simon Property Group Inc., the largest U.S. mall owner, has expressed interest in buying some of General Growth’s properties.
“They’re going to have their opportunity to step forward,” President and Chief Operating Officer Thomas Nolan said of potential bidders in a telephone interview today. “From our standpoint, we acknowledge that. We are looking at as many options as we can, because our ultimate endgame is to maximize our enterprise value for our stakeholders.”
Stephen Sterrett, Simon Property’s chief financial officer, has said the company remained interested in General Growth after last week announcing its purchase of Prime Outlets Acquisition Co. for $2.33 billion. Les Morris, a spokesman for Simon, said the company isn’t commenting further today.
General Growth rose 77 cents, or 8.7 percent, to $9.58 as of 4:02 p.m. in over-the-counter trading.
Bidders ‘Out There’