LG Energy Solution To Decide by October Whether to Pursue IPO This Year: Report

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  • LGES said in June said it plans to complete the IPO process in 2021
  • The report added that the IPO was widely tipped to be South Korea’s biggest-ever listing, potentially raising $10 billion to $12 billion

As per a report by Reuters, LG Energy Solution (LGES) said that it will decide by October whether to pursue its planned initial public offering (IPO) this year.LGES said in June said it plans to complete the IPO process in 2021.

The report added that the IPO was widely tipped to be South Korea’s biggest-ever listing, potentially raising $10 billion to $12 billion. The report also said that this statement from LGES comes after General Motors Co expanded a recall of its Bolt electric vehicle to more than 140,000 cars to replace LG battery packs.

This comes at an estimated cost of $1.8 billion. The automaker said it would seek reimbursement from LG.

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