Korea Investment and Securities

Hotel Lotte Co has sliced the potential money it can raise from its IPO to W5.3tr ($4.6bn), a cut of more than W400bn, and pushed back the deal to now launch in mid-July, according to an updated prospectus filed with the South Korean regulator.

Hotel Lotte Co has delayed the launch of its IPO, which could raise W5.7tr ($4.9bn), as it needs to file more documentation for the deal, it said on Friday — but the setback came just after the issuer’s offices were raided last week on accusations of bribery, according to sources close to the situation.

Hotel Lotte Co is aiming to raise as much as W5.7tr ($4.8bn) from its South Korean IPO and is due to start pre-marketing on Friday.

South Korea’s Hotel Lotte Co, which is planning a $3bn-$5bn listing, could start bookbuilding on Friday, according to a source close to the deal.

Samsung Biologics, which sent out a request for proposals for its South Korean IPO on April 29, is understood to have invited nine domestic and six international firms to submit bids.

Samsung Biologics Co will send out a request for proposals next week for its 2016 IPO, expected to fetch over W3tr ($2.6bn), a source close to the situation told GlobalCapital Asia.

Global construction equipment maker Doosan Bobcat is looking to file for approval for its South Korea IPO by July and could list two months later, a source with knowledge of the situation told GlobalCapital Asia.

China's Fosun International is planning to spin off and list wholly-owned insurance subsidiary Ironshore, according to a filing with the Hong Kong Stock Exchange.

Doosan Bobcat, part of South Korean chaebol Doosan Group, has roped in six banks to lead its IPO.

Netmarble, the South Korean computer and mobile game developer, has mandated two international and two local firms for an IPO that could raise as much as W2tr ($1.6bn) this year.

South Korean computer and mobile game developer Netmarble has shortlisted a trio of international banks and five local firms to lead its IPO, which could raise as much as W2tr ($1.6bn).

South Korea's Netmarble has shortlisted a trio of international banks and five local houses to lead its IPO, which could raise as much as W2tr ($1.6bn).