Hotel Lotte to list in largest Korea IPO since 2010

Seoul

HOTEL Lotte Co, the lodgings and duty-free sales unit of conglomerate Lotte Group, could go public as soon as May, the Korea Stock Exchange said after approving its listing application, setting the stage for potentially the largest South Korean public offering since 2010.

The impending IPO could give impetus for Lotte Group to list its other units, according to the exchange in an e-mailed statement. Lotte chairman Shin Dong Bin, caught in a power struggle with his elder brother for control, promised in September to improve corporate governance in the group started by his father in Japan in 1948.