SEOUL: South Korea’s Hotel Lotte Co Ltd said on Thursday its initial public offering (IPO) is expected to raise up to 5.7 trillion won ($4.79 billion), in what will be the world’s biggest IPO since late 2015.
The world’s third-largest duty-free operator said in a statement it will use the IPO funds to expand its domestic and overseas business to become the world’s No. 1 duty-free operator, one of Asia’s top 3 hotel chains and among the top five global theme-park operators. The company said bookbuilding will take place on June 15-16, subscription on June 21-22, and listing on the Korea stock exchange during June.
