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Lotte's holding company begins trade; Lotte Shopping falls after trading resumes
October 30, 2017 / 12:11 AM / a month ago

Lotte's holding company begins trade; Lotte Shopping falls after trading resumes

SEOUL, Oct 30 (Reuters) - Shares in Lotte Corporation, Lotte Group’s newly-created holding company, opened at 64,000 won per share on Monday as they were listed on South Korea’s main bourse.

Its flagship retailer Lotte Shopping opened down 8.3 percent from its previous close before trading was suspended in late September.

Lotte Group created a holding company to simplify its complex ownership structure and enhance the control of its chairman Shin Dong-bin, who has emerged from a power struggle with his elder brother. (Reporting by Joyce Lee and Dahee Kim; Editing by Stephen Coates)

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