LG / LG $ 10 billion initial release breaks Samsung record?

According to Tejarat News, according to the investment memorandum of LG Korea Battery Company, the company started an initial public offering for investors to earn $ 8.10 billion.

The shares sell for $ 257,000 to $ 30,000 ($ 216 to $ 252) per person for $ 2.9 billion to $ 8.10 billion. The initial public offering will break Samsung’s previous record of $ 9.4 billion in initial public offering in 2010.

LG Battery shares are valued at between $ 51 billion and $ 59 billion.

The company announced Monday that it is in the final stages of launching a successful initial public offering. According to the company’s investment agreement, the proceeds from the sale will be used for production equipment and payment of debts. The battery company supplies the resources of large companies such as Tesla, General Motors and Hyundai.

In this initial public offering, 34 million shares will be sold first and the parent company of this company will sell 5.8 million secondary shares as initial public offering.

Investor demand is expected to be high and pricing for this initial public offering will be finalized by January 14th. Now also quotes Reuters This demand seems to be at a high level.

55% to 75% of this supply is allocated to corporate investors. Of course, this will depend on the retail partnership and the employees’ joint ownership plans. The sale will start on January 27.

South Korea’s initial public offering revenue in 2021 was $ 17.7 billion, which easily broke the 2020 record of $ 6.7 billion. LG’s initial public offering will also increase this number more than last year.

Investor demand for these stocks will depend on the demand for electric vehicles. Global sales of electric vehicles, estimated at 2.5 million units a year, are expected to more than double in 2030 to 31 million units.