department store

The company, which also operates a number of supermarkets, raised $477 million and priced its shares at a P/E of 23 times, making it the second most expensive new stock in Hong Kong year-to-date.

Lotte Shopping pays aggressively to consolidate its position in South Korea, acquiring three department stores and 14 discount stores from GS Retail for $1.12 billion.

The department store operator aims to raise as much as $700 million from one of the first Hong Kong IPOs this year.

Lasting interest in Chinese retail concept stocks and a strong day in the market sees the department store operator attract a healthy level of demand.