Biggest IPO in South Korea

Several media including BBC reported that LG Energy Solution has jumped in its stock market debut. In fact, the deal becomes the biggest ever share offering in South Korea. More specifically, the shares briefly doubled from their initial public offering (IPO) price before ending the day 65.8% higher. The South Korean company raised 12.8tn won ($10.6bn) in the IPO.

This strong performance made LG Energy Solution the second most valuable company on Seoul’s benchmark Kospi index. Furthermore, the IPO is Asia’s biggest equity fund raising since China’s Alibaba Group raised $12.9bn in 2019. When we see this amazing achievement, we understand how hot the electric vehicles industry is.

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