Retail: South Korean department store chain to list in London and Seoul

As part of the initial public offering, Lotte Shopping, South Korea's largest department store chain, intends to list in London and Seoul. The company hopes to raise at least $3 billion with the flotation, valuing the group at about $11 billion, and will be the largest fundraising by a private company in South Korea.

Last year, Kumho Tire, became the first South Korean company to simultaneously list in London and Seoul.