Hotel Lotte Scales Back Korea’s Largest IPO Amid Bribery Probe

  • Top of range cut to 110,000 won a share from 120,000 won
  • Sale, which could be Korea’s biggest IPO, delayed till July

Lotte Group’s hotel unit delayed what could be South Korea’s largest initial public offering and cut the price after prosecutors in Seoul began an investigation into bribery allegations against executives of the family-run company.

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