-Can LG Energy once again reach the top of the battery industry after advancing its IPO as promised with a $10 billion increase?

Can LG Energy once again reach the top of the battery industry after advancing its IPO as promised with a $10 billion increase?
author:enerbyte source:本站 click375 Release date: 2023-07-26 09:15:12
abstract:
According to DigitalDaily, insiders have learned that LG Energy Solutions has decided to advance its IPO as planned within the year, with specific details and dates to be announced shortly. LG Energy is a wholly-owned subsidiary of LG Chem, which was independently establishe...

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According to DigitalDaily, insiders have learned that LG Energy Solutions has decided to advance its IPO as planned within the year, with specific details and dates to be announced shortly.

LG Energy is a wholly-owned subsidiary of LG Chem, which was independently established by its battery business department last year. On June 8th of this year, media reported that LG Energy had applied for IPO preliminary review with the South Korean Stock Exchange.

The pre examination application did not disclose the company's fundraising scale. According to Reuters IFR, LG Energy's fundraising is expected to reach between $10 billion and $12 billion, making it the largest IPO in South Korea's history.

It is reported that the funds raised by LG Energy this time are mainly used for expanding battery capacity. In March of this year, LG Energy announced plans to invest $4.5 billion by 2025 to expand its battery production business in the United States and build new battery factories. In April, LG Energy and General Motors will invest 2.7 trillion Korean won (approximately $2.424 billion) in a joint venture to build a second American electric vehicle battery factory in Tennessee to expand production capacity.

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