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LG Electronics IPO: South Korea’s electronics company LG Electronics has intensified the exercise of bringing IPOs of its Indian unit. The company has started a road show for IPOs. Under the IPO, where South Korean ‘Chabol’ will sell more than 10.18 crore shares equal to 15 per cent stake. The company has done a road show in Mumbai for its IPO and is preparing to roadsho in other cities to woo investors. LG Electronics can raise up to $ 1.5 billion from the equity market through IPO.
According to PTI, a spokesman for LG Electronics refused to comment on it and said that the IPO documents filed before the market regulator SEBI are still under review. According to the draft paper, its South Korean -origin company LG Electronics Inc. will sell 10,18,15,859 equity shares with a face value of Rs 10. All the shares in the IPO will be sold through the offer for sale (OFS). Therefore, LG Electronics India will not get any amount from IPO. The amount raised will go to the South Korean original company.
LG Electronics CEO William Cho said in August 2024 that LG’s list of LG’s own subsidiary company in the Indian stock market is one of the major options that can enhance the consumer electronics business. LG Electronics has also appointed a merchant banker to bring IPOs to India which includes Bank of America, Citigroup, JP Morgan and Morgan Stanley. Through the IPO, the company is aiming to achieve $ 13 billion values.
The CEO of LG Electronics has taken over as CEO after working with the LG Group in 2021 for three decades and has set a target of $ 75 billion annually for consumer electronics business by 2030. In 2023, the company’s revenue was $ 65 billion.
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