S Korea's Lotte Corp soars in debut on hopes for better governance, returns
Combined valuations for group's main listed firms on Monday some 17 per cent above levels for comparable entities in late September
Add BT as a preferred source
Seoul
SHARES in Lotte Corp, the new holding company for South Korea's No 5 conglomerate, soared some 45 per cent on their debut above their issue price, bolstered by hopes for better corporate governance and shareholder returns.
Although the debut comes at a difficult time for the conglomerate, which has been hit by political tensions between Beijing and Seoul, combined valuations for the group's main listed firms on Monday were some 17 per cent above levels for comparable entities in late September.
TRENDING NOW
Car dealers submit S$68 million for renewal of Automobile Megamart’s lease
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
Trump leaves Beijing with few wins but warm words for Xi
