Hotel Lotte eyes US$5 billion IPO
Hotel Lotte Co Ltd could raise up to US$5 billion in what would be South Korea’s biggest initial public offering, Reuters reported.
The listing could reach US$3 billion to US$5 billion, potentially surpassing the US$4.04 billion record set in 2010 by Samsung Life Insurance Co Ltd, said IFR, a Thomson Reuters publication.
Hotel Lotte Co Ltd has the world’s third-largest duty free business in terms of sales, and operated 10 five-star hotels and seven business hotels in South Korea and abroad as of September 2015. It also has an indoor amusement park and two holiday resorts.