LG Energy Solutions plans to raise approximately US$10.8 billion

According to the latest report, LG Energy Solution is seeking a 12.75 trillion won (approximately 10.8 billion U.S. dollars) IPO, which is the largest IPO in South Korea.

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LG Energy Solutions has previously submitted an application to the Korea Stock Exchange and passed the preliminary review of eligibility for listing. The company also needs to submit corresponding documents to the Korean Financial Supervisory Service and complete the remaining procedures, possibly by the end of January 2022 Listed.

Moreover, LG New Energy was a spin-off from LG Chem’s battery business and was formally established on December 1st last year, focusing on electric vehicle batteries and other businesses. Sources claimed that it is the world’s second-largest battery manufacturer after CATL.

LG Energy Solutions is increasing its layout in the battery field. It operates a 5GWh battery plant in Michigan; a joint venture with General Motors (GM) is building two 35GWh battery production plants in Ohio and Tennessee; in addition, the company also announced recently that it will establish a 40GWh joint venture plant with Stellattis.

(VIA)