South Korea’s Hotel Lotte Plans $4.9 Billion IPO, Year’s Largest: Sources

South Korea’s Hotel Lotte Co. Ltd. plans a share sale worth up to 5.7 trillion won ($4.85 billion) next month, sources said on Wednesday, in what would be the world’s biggest initial public offering since late 2015.

The sprawling Lotte Group said last year it would list Hotel Lotte, which includes the third-largest global duty-free retail chain, as part of efforts to simplify its ownership structure amid a family feud over leadership succession.