Korea's securities exchange operator Korea Exchange said Thursday Hotel Lotte is qualified for going public after screening its stocks’ listing.
Hotel Lotte, set up in 1973, is running businesses including duty free shops, a hotel, a theme park and resort complex.
Owned by Lotte Group's subsidiaries including Lotte Holdings (19.1%), the hotel posted 4.1 trillion won in sales and 232.8 billion won in net income in 2014.
Hotel Lotte is set to offer stocks for public subscription after confirming financial statements after the closing entries in fiscal year 2015 in the upcoming regular general meeting of stockholders slated for March. After all the process is completed, it is set to go public in May.
Following the hotel's listing, other Lotte Group's subsidiaries including Lotte Data Communication Company, Korea Seven and Lotteria are expected to go public.
