[HONG KONG] Hotel Lotte Co Ltd could raise up to US$5 billion in what would be South Korea's biggest-ever initial public offering (IPO), IFR reported on Wednesday citing people close to the deal.
The listing could reach US$3 billion to US$5 billion, potentially surpassing the US$4.04 billion record set in 2010 by Samsung Life Insurance Co Ltd, said IFR, a Thomson Reuters publication.
The deal will likely take place in March or April subject to regulatory approval for the preliminary IPO application, IFR reported.
Hotel Lotte, part of the Lotte Group conglomerate, filed the application in December.
Lotte Group declined to comment on the size of the IPO, but said it could take place at the end of the first quarter or early in the second, a spokesperson told IFR.