LG Energy Solution targets $10.8 billion in S Korea’s biggest-ever IPO
Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest ever initial public offering (IPO), according to a term sheet seen by Reuters.
The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and $10.8 billion, the term sheet showed.
It will be the largest IPO in South Korea to date, beating the previous record held by Samsung Life Insurance’s 4.9 trillion won ($4.12 billion) IPO in 2010.
LG Energy Solution will be valued at $51 billion to $59 billion.
The company did not provide any further comment when contacted by Reuters.
