01-14-2016, 05:44 PM
South Korea’s Hotel Lotte Co Ltd could raise up to US$5 billion in what would be South Korea's biggest initial public offering, International Financing Review reported.
Hotel Lotte, wholly owned by the Lotte Group affiliates in South Korea and Japan, filed the application in December. Lotte Group declined to comment on the size of the IPO. The hotel company 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. It reported sales of 3.6 trillion won (US$29.74 billion) between January-September of 2015, up from 3.4 trillion won during the same period in 2014.
Hotel Lotte, wholly owned by the Lotte Group affiliates in South Korea and Japan, filed the application in December. Lotte Group declined to comment on the size of the IPO. The hotel company 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. It reported sales of 3.6 trillion won (US$29.74 billion) between January-September of 2015, up from 3.4 trillion won during the same period in 2014.