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COMING UP:Share Opener Variant 2



>> The world’s biggest IPO so far this year is being teed up a long way from Wall Street. Sources telling Reuters that South Korea’s sprawling Lotte Group plans to raise almost $5 billion dollars next month, when its luxury hotel division goes public. It's an obvious chance to bring in the big money.
But as Joyce Lee reports from Seoul, Lotte has another major reason to want to simplify who owns what.>> There was a very public feud between the two sons of the 93 year old founder of Lotte group. The founder did not have a clear succession plan, so it evolved into very public mud-slinging, which invited criticism of Lotte's very famously opaque shareholding structure.
>> When it comes to the Lotte Hotel empire, there's a lot to fight over. It's not only in the business of luxury resorts from Sultan, New York, it also runs one of the world's largest duty-free retailers, which brought more than 80% of its key one revenue. The company's expected to go public on June 30th in what looks to be a South Korean record, headlining a bumpy year for IPOs in Asia's fourth largest economy.
>> Until now, the South Korean conglomerates have been going through lots of expansions, riding on the top of South Korean economy's booming years in the past decades. And now, they realized they need to restructure and slim down in order to survive. Also, South Korean stock market has been holding its own amongst a very volatile world economy.
>> With plans to license four more duty free stores in Seoul, Hotel Lotte could well be a tempting bet for investors. Based on its preliminary share price, the company's market cap could be worth nearly $14 billion.