S Korea's Hotel Lotte plans 5.7t won IPO: sources

Seoul

SOUTH Korea's Hotel Lotte Co Ltd plans to raise up to 5.7 trillion won (S$6.6 billion) next month, sources with direct knowledge of the matter said on Wednesday, in what would be the world's biggest initial public offering since late 2015.

The sprawling Lotte Group announced last year it would list Hotel Lotte, which includes the third largest global duty-free retail chain, as part of efforts to simplify its ownership structure amid a family feud over leadership succession.