1. Homepage
  2. Equities
  3. Korea, republic of
  4. Korea Stock Exchange
  5. LG Chem, Ltd.
  6. News
  7. Summary
    A051910   KR7051910008

LG CHEM, LTD.

(A051910)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

LG Energy Solution raises $10.8 billion in S.Korea's biggest IPO

01/14/2022 | 03:40am EDT
FILE PHOTO: Illustration shows smartphone with LG Energy Solution's logo displayed

SYDNEY/SEOUL (Reuters) - South Korean battery maker LG Energy Solution (LGES) raised $10.8 billion in its initial public offering (IPO), attracting record demand for a deal in South Korea, the company said on Friday.

LGES shares were priced at 300,000 won each, at the top of a range announced in a regulatory filing last month, raising 12.8 trillion won ($10.76 billion).

The listing, set to take place on Jan. 27, will be the biggest in the country after Samsung Life Insurance Co Ltd's 4.8 trillion won IPO in 2010.

The pricing values LGES at 70.2 trillion won, making it South Korea's third most-valuable company after Samsung Electronics Co Ltd and SK Hynix Inc.

LGES, LG Chem Ltd's battery subsidiary, supplies Tesla Inc, General Motor Co and Volkswagen AG, among other automakers.

A total of 1,988 domestic and foreign institutional investors placed bids, LGES' filing showed, valuing total bids at record $12.8 trillion.

LGES said the institutional book for the IPO was 2,023 times covered - the largest ever for an IPO in South Korea.

LGES expects to offer 34 million new shares in the IPO and parent LG Chem plans to offer 8.5 million existing shares.

The parent company will own 81.8% of LGES after the listing.

The IPO comes as global battery-powered electric vehicle (EV) sales, estimated at 2.5 million units in 2020, are forecast to grow more than 12-fold to 31.1 million by 2030 and account for nearly a third of new vehicle sales, according to consulting firm Deloitte.

Analysts said they are closely watching LGES' IPO and how its stock trades later this month to gauge the health of the 2022 IPO market.

South Korea saw its hottest IPO market on record last year. More than 20 companies went public on the main KOSPI market, raising about 17 trillion won, beating the previous record of 8.8 trillion won raised in 2010, according to the Korea Exchange.

(Reporting by Scott Murdoch in Sydney and Heekyong Yang in Seoul; Additional reporting by Jihoon Lee and Joyce Lee; Editing by Jacqueline Wong, Christopher Cushing and Jane Merriman)

By Scott Murdoch and Heekyong Yang


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
KOSPI COMPOSITE INDEX 0.01% 2604.23 Real-time Quote.-12.51%
LG CHEM, LTD. -0.59% 507000 End-of-day quote.-17.56%
LG CORP. -0.80% 74400 End-of-day quote.-8.03%
ON SEMICONDUCTOR CORPORATION -1.83% 55.15 Delayed Quote.-18.80%
SAMSUNG ELECTRONICS CO., LTD. -0.30% 66300 End-of-day quote.-15.33%
SAMSUNG LIFE INSURANCE CO., LTD. 0.00% 65200 End-of-day quote.1.72%
SK HYNIX INC. -1.78% 110500 End-of-day quote.-15.65%
TESLA, INC. -5.88% 724.37 Delayed Quote.-31.45%
VOLKSWAGEN AG 0.37% 144.74 Delayed Quote.-18.45%
All news about LG CHEM, LTD.
05/16LG Chem, Ltd. Develops Advanced Plastic Product to Prevent Thermal Runaway in EV Batter..
CI
05/13Ontario Tories tout accelerated transmission line projects to southwest
AQ
05/12Li-Cycle Holdings Corp. announced that it has received $49.999987 million in funding fr..
CI
05/10LG Chem, KIST to Make Plastic from Carbon Dioxide
MT
05/06EXCLUSIVE : CATL planning EV battery production in United States, vetting sites - sources
RE
05/05Glencore investing $200 million in battery recycler Li-Cycle
RE
05/04Belgium's Umicore Jumps 10% Amid Interest from South Korea's LG Chem
MT
05/03LG CHEM : Biodegradable Plastic for Zero Harm to the Earth
PU
04/29UBS Adjusts LG Chem's Price Target to 860,000 Won From 940,000 Won, Keeps at Buy
MT
04/27LG Chem's Net Profit Plunges 43.9% in March Quarter; Shares Jump 3%
MT
More news
Analyst Recommendations on LG CHEM, LTD.
More recommendations
Financials
Sales 2022 48 976 B 38,2 B 38,2 B
Net income 2022 2 655 B 2,07 B 2,07 B
Net Debt 2022 7 524 B 5,87 B 5,87 B
P/E ratio 2022 14,2x
Yield 2022 2,14%
Capitalization 37 552 B 29 277 M 29 277 M
EV / Sales 2022 0,92x
EV / Sales 2023 0,84x
Nbr of Employees -
Free-Float 59,6%
Chart LG CHEM, LTD.
Duration : Period :
LG Chem, Ltd. Technical Analysis Chart | A051910 | KR7051910008 | MarketScreener
Technical analysis trends LG CHEM, LTD.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 28
Last Close Price 507 000,00 KRW
Average target price 804 750,00 KRW
Spread / Average Target 58,7%
EPS Revisions
Managers and Directors
Hak Cheol Shin Chairman & Chief Executive Officer
Okdong Son President
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
Young-Ho An Independent Director
Sector and Competitors