Home BUSINESS LG Energy Solution targets $10.8 billion in IPO – term sheet

LG Energy Solution targets $10.8 billion in IPO – term sheet

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January 3, 2022

HONG KONG (Reuters) – Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest ever initial public offering (IPO), according to a term sheet seen by Reuters.

The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and $10.8 billion, the term sheet showed.

LG Energy Solution will be valued at $51 billion to $59 billion.

($1 = 1,188.7700 won)

(Reporting by Scott Murdoch and Joyce Lee; Editing by Himani Sarkar)