AGL 40.03 Increased By ▲ 0.03 (0.08%)
AIRLINK 127.50 Increased By ▲ 0.46 (0.36%)
BOP 6.72 Increased By ▲ 0.05 (0.75%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.43 Decreased By ▼ -0.12 (-1.4%)
DFML 41.66 Increased By ▲ 0.22 (0.53%)
DGKC 87.05 Increased By ▲ 0.20 (0.23%)
FCCL 32.18 Decreased By ▼ -0.10 (-0.31%)
FFBL 65.00 Increased By ▲ 0.20 (0.31%)
FFL 10.15 Decreased By ▼ -0.10 (-0.98%)
HUBC 109.75 Increased By ▲ 0.18 (0.16%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.15 Increased By ▲ 0.10 (1.98%)
KOSM 7.18 Decreased By ▼ -0.28 (-3.75%)
MLCF 41.48 Increased By ▲ 0.10 (0.24%)
NBP 59.90 Decreased By ▼ -0.51 (-0.84%)
OGDC 195.30 Increased By ▲ 5.20 (2.74%)
PAEL 28.35 Increased By ▲ 0.52 (1.87%)
PIBTL 7.78 Decreased By ▼ -0.05 (-0.64%)
PPL 151.50 Increased By ▲ 1.44 (0.96%)
PRL 26.64 Decreased By ▼ -0.24 (-0.89%)
PTC 16.15 Increased By ▲ 0.08 (0.5%)
SEARL 78.10 Decreased By ▼ -7.90 (-9.19%)
TELE 7.49 Decreased By ▼ -0.22 (-2.85%)
TOMCL 35.49 Increased By ▲ 0.08 (0.23%)
TPLP 8.07 Decreased By ▼ -0.05 (-0.62%)
TREET 16.15 Decreased By ▼ -0.26 (-1.58%)
TRG 52.80 Decreased By ▼ -0.49 (-0.92%)
UNITY 26.69 Increased By ▲ 0.53 (2.03%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,941 Increased By 57.3 (0.58%)
BR30 30,924 Increased By 324.3 (1.06%)
KSE100 93,818 Increased By 462.2 (0.5%)
KSE30 29,070 Increased By 139.3 (0.48%)

South Korea's Lotte Group, whose hotel unit faces a July deadline to complete an initial public offering (IPO) worth up to $4.5 billion, said on Sunday that it is "difficult" for it to modify the listing document.
The statement came two days after prosecutors raided the offices of Lotte Group and several companies in the conglomerate, including Hotel Lotte.
Three people with direct knowledge of the matter said the raids were part of an investigation into a possible slush fund, dealing a new blow to the hotel unit's planned IPO, which could be the world's biggest this year.
Earlier last week, Hotel Lotte cut the size of the IPO and pushed back the listing from June to July, in a revision to its listing document, after prosecutors launched a bribery investigation into a director.
"Carrying out procedures such as a modified filing to protect investors are currently physically difficult," Lotte Group said in a statement on Sunday.
According to stock exchange rules, the deadline for Hotel Lotte to list is July 27, six months from the preliminary approval for the IPO. If it needed to refile its prospectus to warn investors about risks from Friday's probe, which appeared likely, it would probably not be able to meet that deadline, an exchange official told Reuters on Friday.

Copyright Reuters, 2016

Comments

Comments are closed.