LG New Energy plans to raise at least US$9.2 billion before listing, with a global market share of 20.5%

LG Energy Solution (LG Energy Solution) has begun to accept investor subscriptions and plans to raise up to 10.8 billion U.S. dollars, which may become the largest initial public offering (IPO) in South Korea's history.

According to the document, LG New Energy plans to sell approximately 42.5 million shares at a price of between 257,000 and 300,000 won (US$216.19-252.36) per share, raising US$9.2 billion to US$10.8 billion, which will break Samsung Life Insurance’s issuance in 2010. The previous record of 4.9 trillion won (4.12 billion US dollars).

According to data, LG New Energy is a wholly-owned subsidiary of LG Chem Ltd., which supplies Tesla, General Motors, and Hyundai Motors.

SNE Research, a South Korean market research institution, has a market share of 20.5% of LG's new energy market in 2021, second only to the CATL (31.8%).

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