Hotel Lotte to list in largest Korea IPO since 2010
Move comes amid group chairman's power struggle with his elder brother for control
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Billionaire Geiger is said to near US$7 billion L’Occitane buyout
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years