LG Energy Solution, the pure-play electric vehicle battery maker of South Korea’s LG Group, is pricing Korea’s biggest IPO of a $10 billion milestone this week.
LG Energy Solution, the battery business spun off from LG Chem, holds book-building session for institutional investors Tuesday and Wednesday. Pricing will be announced on Friday and invite public subscription on Jan. 18-19 before Kospi debut on Jan. 27.
LG Energy Solution will offer 42.5 million initial shares at an indicative price band of between 257,000 won and 300,000 won. Most analysts predict the IPO to be priced at the top end to raise 12.7 trillion won ($10.6 billion). The stock would zoom to No. 3 after chip bellwethers with market cap at 70 trillion won.
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