Lotte heir nets $342m via Lotte Shopping sell down

One of the sons of Lotte Group founder has sold a chunk of his shareholding in Lotte Shopping Co through an accelerated bookbuild, netting W391.2bn ($341.8m) in the process.

  • By Jonathan Breen
  • 17 Feb 2017

Shin Dong-Joo, the eldest son of Lotte Group founder Shin Kyuk-Ho, offered 1.73m of his shares to investors at W222,000-W232,000 each on Thursday evening local time. The range translated to a 8.7%-12.6% discount to Lotte Shopping’s close of W254,000 per share on the day. 

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