Lotte Corp goes on roadshow to lure investors to its units

Lotte Corp., the holding company of South Korea’s fifth-largest conglomerate Lotte Group, meets overseas investors to draw attention to its business umbrella for the first time since its founding in October last year.

Lotte Corp in a disclosure on Friday said it will hold non-deal investor relations conferences in Hong Kong and Singapore. The event will be arranged by Nomura Securities and HSBC for two days from Thursday.

Lotte Corp Vice Chairman Hwang Kag-gyu and other IR executives at Lotte businesses will explain business details and strategies. Over 30 investment institutions have been invited.

They will explain the synergy expected from the plan of placing six unlisted companies under Lotte Corp. The reorganization plan passed shareholders’ meetings on February 27. They also will pitch their endeavors to raise management transparency in the scandal-ridden family-run conglomerate as well as shareholders’ value. Lotte Group Chairman Shin Dong-bin was sentenced to 30 months in prison for bribery charges in a first trial ruling last month and since has been behind bars.

Lotte Shopping on Friday announced that it would more than triple cash dividend from last year. Information technology unit Lotte Data Communication will become the first under Lotte Corp. family to seek an initial public offering.

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