South Korea'' s Lotte says hard to customize hotel unit'' s IPO listing document

© Reuters. A private investigator from the prosecution office carries boxes including confiscated posts at Lotte Group’s head office in Seoul

SEOUL (Reuters) – South Korea’s Lotte Group, whose hotel system faces a July deadline to finish a preliminary offering worth approximately $4.5 billion, said on Sunday that it is “tough” for it to customize a listing document. The statement comes 2 days after district attorneys robbed the workplaces of Hotel Lotte and others in the conglomerate. Three people with direct understanding of the matter said the raids were part of an investigation into a possible slush fund, dealing a new blow to the hotel unit’s planned going public, which might be the world’s most significant this year. Previously last week, Hotel Lotte cut the size of the offer and pushed back the listing to July, in a modification to its listing document, after prosecutors released a bribery examination into a director. “Carrying out procedures such as a customized filing to secure investors are currently physically tough,” Lotte Group said in a statement on Sunday. Disclaimer: Blend Media want to remind you that the data included in this site is not necessarily real-time nor precise. All CFDs (stocks, indexes, futures) and Forex prices are not offered by exchanges but rather by market makers, therefore prices might not be accurate and might differ from the actual market value, suggesting prices are a sign and not necessary for trading purposes. Therefore Blend Media does n`t bear any obligation for any trading losses you might incur as a result of utilizing this data. Blend Media or anybody included with Combination Media will decline any liability for loss or damage as a result of dependence on the details consisting of information, quotes, charts and buy/sell signals consisted of within this site. Please be fully informed concerning the risks and costs connected with trading the financial markets, it is among the riskiest investment kinds possible.

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