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
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife customers push for legal action