Lotte Hotel Postpones Overseas Roadshow of IPO

Lotte Hotel

Hotel Lotte, the hotel unit of South Korea’s retail giant Lotte Group, has reportedly adjusted the starting date for the overseas roadshow for its USD4.8 billion IPO.

A Reuters report said Hotel Lotte had postponed investor meetings, which is supposed to start on Monday for the IPO that would be the world’s largest this year.

The report, which quoted unnamed sources, said Hotel Lotte still has to make additional filing before it could begin its bookbuilding.

The listing date for the IPO has not been decided yet, according to Lotte Group spokesman Song No-Hyun said.

Hotel Lotte’s IPO on the KOSPI market is expected to fetch over KRW5tr (USD4.19bn), with the medium range of price expected to surpass the record amount of KRW4.9tr (USD4.1bn) sale by Samsung Life Insurance Co in 2010.

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