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LG Energy Solution prices IPO at top of range; raises $10.8 billion -sources

SYDNEY :South Korean battery maker LG Energy Solution (LGES) has priced its preliminary public providing (IPO) at the top of its indicative vary, elevating 12.8 trillion gained ($10.76 billion), two individuals with direct data of the matter advised Reuters on Friday.

Shares of LGES have been priced at 300,000 gained, in contrast with a variety of 257,000 to 300,000 gained per share introduced in a regulatory submitting final month.

“We cannot comment on the details of pricing of our IPO at the moment and we plan to announce the pricing via regulatory filing once finalised,” mentioned a spokesperson at LGES.

LGES is scheduled to announce the pricing in a while Friday.

LGES https://www.reuters.com/markets/us/lg-energy-solution-battery-maker-behind-skoreas-biggest-ipo-2021-12-07, LG Chem Ltd’s battery subsidiary, provides General Motor Co and Volkswagen AG, amongst different automakers.

The pricing values the corporate at 70.2 trillion gained, making it South Korea’s third most-valuable firm after Samsung Electronics Co Ltd and SK Hynix Inc.

The itemizing, which can happen on Jan. 27 based on time period sheets, would be the greatest within the nation after Samsung Life Insurance Co Ltd’s 4.8 trillion gained IPO in 2010.

(Reporting by Scott Murdoch in Sydney and Heekyong Yang in Seoul; Editing by Jacqueline Wong and Christopher Cushing)

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