SEOUL: South Korea’s Hotel Lotte Co Ltd has shortlisted seven banks as arrangers for its proposed IPO, sources familiar with the situation told IFR.
Of the seven, Bank of America Merrill Lynch, Citigroup, Goldman Sachs, Korea Investment & Securities, Daewoo Securities, Mirae Asset Securities and Nomura, the company would choose four to be arrangers, said one of the sources. The company, a subsidiary of Lotte Group, will make a mandate decision in early September, IFR reported.
A Lotte Group spokesman told Reuters earlier that Hotel Lotte would have an expected market capitalisation of around 10 trillion won ($8.4 billion), when it listed.
