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South Korea's Lotte Group says still intends to list Hotel Lotte
September 29, 2016 / 2:51 AM / a year ago

South Korea's Lotte Group says still intends to list Hotel Lotte

SEOUL (Reuters) - South Korean conglomerate Lotte Group, the subject of a wide-ranging corruption investigation, is still intent on seeking an initial public offering for its Hotel Lotte arm, but can only proceed with the plan after prosecutors conclude their probe, a spokesman said on Thursday.

Early on Thursday a Seoul Central District Court judge said the court had rejected a request by prosecutors for a warrant to arrest Lotte Group chairman Shin Dong-bin in connection with the investigation.

The probe, which became public in June, derailed Lotte Group’s previous plan for a $4.5 billion IPO for Hotel Lotte.

Reporting by Joyce Lee; Editing by Kenneth Maxwell

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