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Photo = Lotte Holdings |
[Alpha Biz= Kim Jisun] On June 26, Lotte Corporation announced via regulatory filing that it has sold 5.0% of its treasury shares—approximately 5.25 million shares—to Lotte Property & Development Co., Ltd. for KRW 147.7 billion (approximately USD 106 million). Following the sale, Lotte Corp.'s treasury shareholding has been reduced to 27.37%.
In its annual business report submitted in March, Lotte Corp. had previously disclosed plans to divest up to 15% of its total issued shares held in treasury, citing goals to improve its financial structure and secure funds for new business investments.
Since its establishment as a holding company in 2017, Lotte Corp. has accumulated a significant proportion of treasury stock through a series of spin-offs and mergers involving key affiliates such as Lotte Confectionery, Lotte Shopping, Lotte Chilsung Beverage, and Lotte Food.
The company plans to continue selling its treasury shares in phases, up to 15% of total issued stock. It is also reportedly considering partial cancellation of remaining treasury stock as part of its broader capital strategy.
This move reflects Lotte Corp.'s ongoing efforts to enhance capital efficiency and support long-term corporate restructuring and investment plans across its affiliated businesses.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
