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Reuters
Published
Aug 16, 2015
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South Korea's Hotel Lotte seen worth around $8.5 billion

By
Reuters
Published
Aug 16, 2015

South Korea's Hotel Lotte Co Ltd is expected to have a market capitalisation of around 10 trillion won ($8.5 billion) when it lists, a Lotte Group spokesman said on Thursday.



Lotte Group made the estimate in a document submitted to South Korean government agencies before its chairman, Shin Dong-bin, announced on Tuesday that the unit would list as quickly as possible to simplify ownership structures, the spokesman said.

Shin and his brother, Shin Dong-joo, have been mired in public mudslinging over who should succeed their father, 92-year-old company founder Shin Kyuk-ho.

The Lotte Group's owner family and Japan-based Lotte Holdings, a key holding company, control Lotte's South Korean units through Hotel Lotte.

Analysts have estimated Hotel Lotte's market valuation at as much as 20 trillion won ($17 trillion), citing healthy earnings growth.

Retailer Lotte Shopping Co Ltd, with a market capitalisation of around 7.9 trillion won ($6.7 trillion), is currently Lotte Group's largest listed unit.

 

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