One of South Korea’s most influential financial firms is forecasting a record-breaking number of initial public offerings (IPOs) for 2016, according to a report published by Bloomberg Business.

According to Bloomberg, IPOs could reach KRW5 trillion (US$4.2 billion) this year – the most since 2010 – as the government encourages companies to restructure and a number of high profile deals are scheduled for completion, including a planned sale by Hotel Lotte Co.

“If Lotte’s listing is a success and helps improve its corporate governance, other chaebols may follow,” Cho Kwang-jae, Managing Director of Equity Capital Markets at NH Investment & Securities Co told Bloomberg. “With the government’s drive to restructure, companies under pressure to do restructuring may consider listing of their profitable affiliates.”

FMCG companies together with biotechnology, advertising and software are predicted to lead the charge. “Small listings made the nation’s IPO market busy last year without a big deal. Companies in games, cosmetics and bio industries are preparing to list their shares this year,” added Cho.