Lotte IPO delay

Lotte Group’s initial public offering of its hotel unit, which may be South Korea’s largest listing on record, will be delayed after reports said a company executive is being investigated, people familiar with the matter told Bloomberg.
A new timetable for marketing of the IPO, previously scheduled for June 6, hasn’t been set yet, the people said.
A Lotte Group spokesman confirmed that the roadshow schedule will be “adjusted” but declined to comment on the reason.
Prosecutors visited Hotel Lotte Co with a search-and-seizure warrant late this week as part of a bribery investigation. The hotel unit and a company executive are subjects of the investigation.