Lotte Shopping to set up Singapore holding firm, eyes its IPO

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Lotte Shopping to set up Singapore holding firm, eyes its IPO - Korea Economic Daily

Quick Summary:

By 2030, Lotte Shopping, also the parent Lotte Department Store, targets 1.3 trillion won ($1 billion) in operating profit on sales of 20.3 trillion won, it told chief investment officers and analysts at major South Korean asset management and brokerage firms during the IR session.

Lotte Shopping Co., South Korea’s leading retail company, will transform its special purpose company (SPC) in Singapore into a holding firm to beef up its Southeast Asian operations and will pursue its IPO, said a Lotte official on Friday.

Lotte Shopping now aims for 800 billion won in operating profit against sales of 15.2 trillion won in 2026 on a consolidated basis.