Hotel Lotte Co., the key lodgings and duty-free unit of South Korea’s Lotte Group, is planning for its initial public offering to raise as much as 5.7 trillion won ($4.8 billion) in what could be the largest IPO in the country, Korea Economic Daily reported, citing unidentified investment bankers.

The company plans to sell 47.85 million shares, or a 35 percent stake, at a range of 97,000 won to 120,000 won apiece, according to the report. The company, which plans to submit a prospectus to Korean regulators on Thursday, would be valued at 16.4 trillion won based on the high end of that range, according to the report.

A Hotel Lotte spokeswoman declined to comment.

Based on the high end of the price range, the sale would exceed the record 4.9 trillion won raised in Samsung Life Insurance Co.’s sale in 2010. The offering could also test investor perceptions about Korean corporate governance as Lotte has been embroiled in a public feud involving the chairman, his older brother and their father over control of the group since last year.

The company plans to sell 34.2 million in new shares, while the rest will come from existing shareholders, according to the report. The shares will be listed on the Korea Stock Exchange on June 30, according to the report.

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