SEOUL (Reuters) – Auto battery maker and Tesla Inc supplier LG Energy Solution applied for preliminary approval of an initial public offering (IPO) that financial publication IFR said could raise $10 billion-$12 billion in South Korea’s biggest ever listing.
LG Energy and the Korea Exchange announced the application for approval of the previously flagged IPO on Tuesday, without mentioning its size. IFR reported the potential size earlier in June, citing people close to the deal.
LG Energy, wholly owned by LG Chem Ltd from which it was carved out last year, said the IPO was planned for 2021. A spokesperson declined to comment on the IPO size on Wednesday and said it will be decided taking into account the company’s future capital expenditure and financial structure.
