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    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
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LG Energy Solution gets preliminary approval for IPO

11/30/2021 | 04:41am EST
FILE PHOTO: The logo of LG Chem is seen at its office building in Seoul

SEOUL (Reuters) - Battery maker LG Energy Solution (LGES) has received preliminary approval for what has been widely tipped to be South Korea's biggest-ever initial public offering, the Korea Exchange said on Tuesday.

A supplier to Tesla Inc, General Motor Co and Hyundai Motor Co, among others, LGES filed for a review of its IPO plans in June.

In October, the wholly owned subsidiary of LG Chem Ltd resumed work on its IPO, which was suspended in August due to a lack of clarity regarding the recall costs involving GM's Bolt electric vehicles.

The IPO could raise $10 billion to $12 billion, according to publication IFR.

A $10 billion-$12 billion IPO would be more than double the biggest ever listing in South Korea, the 2010 IPO of Samsung Life Insurance, which was worth 4.9 trillion won ($4.39 billion).

The company has mandated KB Securities and Morgan Stanley to lead the proposed deal. Bank of America, Citigroup, Daishin Securities, Goldman Sachs and Shinhan Investment Corp were also mandated as bookrunners.

LG Energy Solution reported an operating loss of 373 billion won ($313 million) in the July-September quarter versus an operating profit of 169 billion won a year earlier, a regulatory filing showed.

($1 = 1,190.7800 won)

(Reporting by Heekyong Yang; editing by Louise Heavens and Jason Neely)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI MOTOR COMPANY -0.99% 200000 End-of-day quote.-4.31%
LG CHEM, LTD. -0.29% 694000 End-of-day quote.12.85%
SAMSUNG LIFE INSURANCE CO., LTD. 0.77% 65200 End-of-day quote.1.72%
TESLA, INC. -5.26% 943.9 Delayed Quote.-10.68%
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Analyst Recommendations on HYUNDAI MOTOR COMPANY
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Financials
Sales 2021 116 909 B 98,1 B 98,1 B
Net income 2021 5 876 B 4,93 B 4,93 B
Net Debt 2021 69 787 B 58,6 B 58,6 B
P/E ratio 2021 8,52x
Yield 2021 2,08%
Capitalization 42 371 B 35 567 M 35 549 M
EV / Sales 2021 0,96x
EV / Sales 2022 0,86x
Nbr of Employees 70 388
Free-Float -
Chart HYUNDAI MOTOR COMPANY
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Hyundai Motor Company Technical Analysis Chart | A005380 | KR7005380001 | MarketScreener
Technical analysis trends HYUNDAI MOTOR COMPANY
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 30
Last Close Price 200 000,00 KRW
Average target price 292 300,00 KRW
Spread / Average Target 46,2%
EPS Revisions
Managers and Directors
Eui-Sun Chung Vice Chairman & Co-Chief Executive Officer
Chang Jae-hoon Executive Vice President
Albert Biermann Co-President & Director
Eon-Tae Ha Co-President & Director
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
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