S.Korea's Lotte Data Communication says plans IPO

Lotte

15/03/2018 07:21

SEOUL, March 15 (Reuters) - Lotte Data Communication Co, a
unit of South Korea's Lotte Group, said on Thursday it has
sought approval from the country's stock exchange for an initial
public offering (IPO). 
    Lotte Data Communication said in a statement that the
planned IPO is part of a pledge by South Korea's fifth-largest
conglomerate to simplify its holding structure through IPOs, as
well as the recent via its formation of a holding company Lotte
Corp  004990.KS . 
    Lotte Data, which reported a revenue of 691.3 billion won 
($649.27 million) in 2017, did not give details on the potential
IPO dates or size. 

($1 = 1,064.7300 won)

 (Reporting by Joyce Lee
Editing by Shri Navaratnam)
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters
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