September 29, 2016 / 2:12 AM / a year ago

S.Korea's Lotte Group says still intends to list Hotel Lotte

SEOUL, Sept 29 (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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below