KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Lotte

Lotte Rental Begins IPO Listing Process, Aims to Raise a 400 Billion Won

James Jung by James Jung
PUBLISHED: June 2, 2021 UPDATED: June 3, 2021
in Lotte, Tech Industry
0
Lotte Rental IPO listing
Lotte Rental, the largest South Korean car rental platform, had begun its initial IPO listing process ahead of the other Lotte affiliates’ respective IPOs.

Lotte Rental, the largest South Korean car rental platform, had begun its initial IPO listing process ahead of the other Lotte affiliates’ respective IPOs.

Lotte Rental Co., South Korea’s top car auto lease and car rental company, announced that it had begun its initial public offering (IPO) listing process. The Lotte mobility unit plans to raise around 400 billion won ($360 million) through the share sale.

Investment banking sources said that Lotte filed its preliminary review to the Korea Exchange. Given the usual processing, industry watchers expect Lotte to receive approval sometime in August. Lotte also plans to list its shares in KOSPI in September.

In October 2020, Lotte Rental indefinitely postponed its share listing plan after experiencing a slow local IPO market. If Lotte Rental’s IPO succeeds, its stock sales could offer financial relief to its parent company, Hotel Lotte Co., which is currently recovering from the pandemic impacts.

  Lotte Rental’s investors, including the National Pension Service, also see the IPO and their stake sales as an investment exit. Furthermore, in 2015, Hotel Lotte’s 1.2 trillion won investment obtained South Korea’s most massive car rental company, KT Rental, and rebranded it into Lotte Rental.

Offering Decent Profits

Lotte Rental provides car leasing, car rental services, and used car sales. Lotte Rental’s corporate value could reach about 2 trillion won ($1.8 billion) thanks to its current services. At present, Lotte Rental is South Korea’s largest car rental platform, with a staggering 20% market share.

Compared to its domestic market rival, SK Rent A Car Co., which boasts a 650 billion won market capitalization, Lotte Rental holds a higher enterprise value. Last year, Lotte Rental also recorded a 14.3 billion won operating profit and a 2.3 trillion won revenue.

Moreover, the leading car service platform increased its corporate value by actively upgrading GreenCar. Lotte Rental holds an 84.7% share in GreenCar, its car-sharing unit that supports over 3 million users. In addition to being the country’s second-largest car-sharing platform after SoCar, GreenCar incorporated auto sales into its existing businesses.

Lotte Affiliates Preparing for IPOs

According to Lotte Rental, if its IPO does well, it would follow up the achievement with more IPOs. For instance, Lotte affiliates, including Hotel Lotte, reportedly plan to file for IPOs in the future.

Investment banking industry officials also shared that since 2019, Lotte Group has been preparing for its affiliates’ IPOs by acquiring funding and reshuffling its governance structure. In 2015, Lotte Group prepared for Hotel Lotte’s IPO listing. However, it dropped the plan due to challenging market conditions.

Additionally, other Lotte units, including Korea Seven, Lotte Cultureworks, and Lotte GRS, continue to prepare for their respective IPOs.

Check out other must-read articles from KoreaTechToday:

  • Kakao Japan Secures 600 Bln Won, Boosts Webtoon Biz Ahead 2022 IPO
  • Lotte Group Promotes Eco-Friendly Chemical Biz ‘Green Promise 2030’
  • Naver to Focus On Growth for Future Naver Webtoon US IPO Listing
  • SK IE Technology To File For IPO, Targets To Raise $1 Billion
Tags: car auto leasecar-rentalIPOIPO listingLotteLotte Rental

Related Posts

Korea’s APEC Digital & AI Forum Highlights Asia’s Push for Responsible Tech Leadership
Lotte Rental, the largest South Korean car rental platform, had begun its initial IPO listing process ahead of the other Lotte affiliates’ respective IPOs.
South Korea

Korea’s APEC Digital & AI Forum Highlights Asia’s Push for Responsible Tech Leadership

October 24, 2025
LG Uplus Bows to Pressure, Will Report Hacking Signs to Cybersecurity Watchdog
Lotte Rental, the largest South Korean car rental platform, had begun its initial IPO listing process ahead of the other Lotte affiliates’ respective IPOs.
LG

LG Uplus Bows to Pressure, Will Report Hacking Signs to Cybersecurity Watchdog

October 22, 2025
South Korea Tightens Cyber Defenses After Detecting Government Hacking Attempt
Lotte Rental, the largest South Korean car rental platform, had begun its initial IPO listing process ahead of the other Lotte affiliates’ respective IPOs.
Government

South Korea Tightens Cyber Defenses After Detecting Government Hacking Attempt

October 21, 2025
When Data Fails Trust: A Deep Dive into South Korea’s Escalating Breach Crisis
Lotte Rental, the largest South Korean car rental platform, had begun its initial IPO listing process ahead of the other Lotte affiliates’ respective IPOs.
Editorial Feature

When Data Fails Trust: A Deep Dive into South Korea’s Escalating Breach Crisis

October 17, 2025
South Korea Prepares Fourth Launch of Homegrown Nuri Rocket
Lotte Rental, the largest South Korean car rental platform, had begun its initial IPO listing process ahead of the other Lotte affiliates’ respective IPOs.
Government

South Korea Prepares Fourth Launch of Homegrown Nuri Rocket

October 1, 2025
South Korea, BlackRock Team Up to Build Hyperscale AI Data Center Hub
Lotte Rental, the largest South Korean car rental platform, had begun its initial IPO listing process ahead of the other Lotte affiliates’ respective IPOs.
Data Center

South Korea, BlackRock Team Up to Build Hyperscale AI Data Center Hub

October 1, 2025
No Result
View All Result

Most Popular

  • Ride-Hailing Rivalry: Kakao and Uber Bet on Membership Services in Korea

    0 shares
    Share 0 Tweet 0
  • Kakao Mobility Faces $10.5 Million Fine for Limiting Competitors’ Access to Taxi Platform

    0 shares
    Share 0 Tweet 0
  • Korea’s Navigation Battle Heats Up: Naver and Kakao vs. Google maps

    0 shares
    Share 0 Tweet 0
  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Naver Maps Launches Guide in English, Chinese, and Japanese to Enhance Travel Experience for Tourists

    0 shares
    Share 0 Tweet 0
  • Naver Unveils Asia’s Largest Data Center, GAK Sejong, for Tech Innovation

    0 shares
    Share 0 Tweet 0
  • Naver Video Streaming Service V Live to Go Global

    0 shares
    Share 0 Tweet 0
  • South Korea’s $2.26 Billion Vision: A Robotic Revolution by 2030

    0 shares
    Share 0 Tweet 0
  • What SK Group’s ‘AI Now & Next’ Summit Reveals About the Future of Intelligent Korea

    0 shares
    Share 0 Tweet 0
  • Hanwha Aerospace to Develop Indigenous Turboprop Engine for South Korea’s Next-Gen UAVs

    0 shares
    Share 0 Tweet 0

PRODUCTS

[ads_amazon]

TOPICS

  • Naver
  • Kakao
  • Nexon
  • Netmarble
  • NCsoft
  • Samsung
  • Hyundai

FREE NEWSLETTER

FOLLOW US

  • About Us
  • Cookie policy
  • home
  • homepage
  • mainhome
  • Our Services
  • Privacy Policy
  • Terms of Use

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |