Lotte shops for record breaking IPO

Pre-marketing has begun for a $2.5 billion to $3 billion IPO for Korean retailer Lotte Shopping. The Goldman Sachs, Nomura and Daewoo Securities led deal was launched last Monday (January 2) and will begin formal roadshows at the beginning of next week, with pricing of the international offering scheduled for January 27 just before Chinese New Year. The domestic offering will be launched immediately after the holiday, with listing scheduled for mid-February.