SEOUL: Shares of battery maker LG Energy Solution Ltd debut on Thursday after South Korea's biggest-ever initial public offering attracted bids worth US$13 trillion, underscoring upbeat prospects for the electric vehicle industry.
Spun out of LG Chem Ltd, the firm commands more than 20 per cent of the global EV battery market and supplies Tesla Inc, General Motors Co and Volkswagen AG among others.Its trading debut will set the tone for upcoming IPOs in South Korea as retail investors - known as"ants" - have flocked to the stock market with liquidity aided by the government's stimulus policy during the COVID-19 pandemic.
More than 4.4 million retail investors bid a record 114 trillion won to subscribe to shares in the IPO, Asia's largest equity fund raising since Alibaba raised US$12.9 billion in its Hong Kong secondary listing in 2019.More than 20 companies went public on South Korea's main board last year, raising about 17 trillion won, nearly double the previous record of 8.8 trillion won raised in 2010, according to bourse operator Korea Exchange.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LG Energy Solution, GM to build $2.1 billion battery factory in U.SSEOUL : South Korea's LG Energy Solution (LGES) plans to spend $2.1 billion with General Motors to build a U.S. electric vehicle (EV) battery plant, parent firm LG Chem said on Tuesday. LGES and GM are expected to fund the project equally via Ultium Cells, their U.S.-based battery joint venture, for what
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
LG Display Q4 profit drops 30per cent on year, hit by lower TV panel pricesSEOUL :South Korea's LG Display Co Ltd posted on Wednesday a 30per cent drop in quarterly operating profit on the year, hit by a steep decline in TV panel prices that offset solid shipments of smaller screens used for computers, laptops and smartphones. The Apple Inc supplier posted an operating profit of 476
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
LG Energy Solution, GM to build $2.1 billion battery factory in U.SSEOUL : South Korea's LG Energy Solution (LGES) plans to spend $2.1 billion with General Motors to build a U.S. electric vehicle (EV) battery plant, parent firm LG Chem said on Tuesday. LGES and GM are expected to fund the project equally via Ultium Cells, their U.S.-based battery joint venture, for what
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea's GDP growth at 11-year high in 2021 as exports boomSEOUL: South Korea\u0027s economy expanded at the fastest pace in 11 years in 2021 thanks to record exports, though a slowdown in capital investment cast a cloud over the outlook for growth this year. Tuesday\u0027s (Jan 25) data from the Bank of Korea showed gross domestic product (GDP) expanded 4.0 per cent i
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea considers expanded won trading in bid for MSCI developed market inclusionSEOUL : South Korea on Tuesday said it may extend trading hours of the won spot market and allow overseas dealers to participate in the market as it aims for inclusion in the MSCI developed markets index.The finance ministry said giving out won-trading licenses to offshore dealers is one of the plans bein
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea's daily Covid-19 count tops 8,000 for first time amid Omicron spread
Source: STForeignDesk - 🏆 4. / 71 Read more »