South Korea's Hotel Lotte IPO to raise up to 5.7t won: source

[SEOUL] South Korea's Hotel Lotte Co Ltd plans to raise roughly 5.7 trillion won (S$6.63 billion) in an initial public offering, a source with direct knowledge of the matter said on Wednesday.

Preliminary plans call for existing shareholders to sell about 13,650,000 shares, while 34,200,000 new shares will be issued at an indicative price range of 97,000 won to 120,000 won per share, the person said.

A June 30 listing date is expected, the person said.

A spokesman for the Lotte Group could not immediately be reached for comment.

REUTERS