While the agency declined to comment, it is believed that it secured the business following a competitive pitch against other contenders.
The global IPO comprises a listing on both the London and Seoul stock exchanges, and is believed to be both Asia's largest non-privatisation IPO, and the largest ever fund raising by a private company in Korea.
A source familiar with the deal pointed out that the strong demand for Lotte was encouraging for Korean business as a whole. "It's good to see Korean firms back in the capital markets," said the source. "And the Korean retail recovery of the last year has certainly encouraged a lot of people. The Korean department stores have a pretty positive outlook."
Gavin Anderson HK tipped to manage Lotte Shopping IR
Gavin Anderson's Hong Kong office has reportedly scooped the international investor relations brief for the US$3.5 billion dual listing of Korea's largest department store chain, Lotte Shopping.