Lotte Group revives hotel IPO as group seeks to regain confidence

Visual from Lotte Hotel website

Lotte Group revived plans for an initial public offering of its hotel unit, kicking off what would be a key part of a effort to improve the image of a South Korean business empire roiled by corruption allegations and feuding founding-family members.

The subsidiary, Hotel Lotte Co., will seek to list its shares, Group Chairman Shin Dong-bin said at a press briefing in Seoul, without specifying a timeframe. In June, Korea’s biggest operator of hotels and duty-free stores shelved plans for a potential $4.5 billion IPO after criminal investigations paralyzed one of the country’s busiest dealmakers.

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