Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

LG Planning IPO In India, Says Reports

- Advertisement -

LG discussing its listing in India’s stock market? Reports Korean biz journal.

According to Invest Chosun, the financial division of the Chosun media group in Korea, 

LG Electronics is considering launching an initial public offering (IPO) for its Indian subsidiary, LG Electronics India Pvt Ltd (LGEIL). The IPO can raise a fund of approximately $500M.

- Advertisement -

Published on Thursday, the report claimed that the LG Group has engaged with international investment banks and domestic legal firms to explore the possibility of listing LGEIL in the domestic stock market. 

While JP Morgan and Morgan Stanley are potential candidates to oversee the IPO, no official confirmation has been made by any of the stakeholders or LG.

The South Korean tech giant plans to capitalise on the robust sales of its Home Appliance Division in India to generate significant funds via the stock market, specifically focusing on European markets. This strategy could raise hundreds of billions of South Korean won, claims Chosun.

LGEIL’s net assets are valued at approximately $825 million (equivalent to 1.1466 trillion won), and its corporate worth is expected to range from $2.1 billion (about 3 trillion won) to $4.3 billion (approximately 6 trillion won).

This is not LG’s first decision of an IPO in India. The company had previously considered an IPO for LGEIL in the early 2000s but postponed it due to unfavourable market conditions, opting instead to focus on establishing factories and dealerships, particularly in regions like Pune.

The report further highlighted that LG Electronics’ probable decision follows a recent action taken by Hyundai Motor, which submitted preliminary documents to the Securities and Exchange Board of India (SEBI) on June 14. Hyundai plans to offer up to 142 million shares out of 812 million in an IPO.

Based in Seoul, LG Electronics is a South Korean multinational corporation renowned for its appliances and consumer electronics. It specialises in various products, including TVs, computers, appliances, and air conditioners.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Roboshuttles, Autonomous Buses Revenue To Surpass $67 Billion By 2044

0
Experiencing gradual growth and slow adoption, the autonomous buses and roboshuttles global market may cross $67 billion after the next twenty years with a...

Global Smartphone Market Up 6.5% YoY in Q2 2024

0
Boosted by better consumer confidence and positive economic factors, reports say that the global smartphone sell-through volumes increased by more than 6% YoY in...

AI Startup Funding Drops 10% YoY In 2023

0
With total investment falling by 10%, 2023 recorded AI startup backing of $42.5 billion, a decline after hitting the peak in 2021 as per...

Buzz

Finland Abstains On EU China EV Tariffs, Following Germany And Sweden

0
The European Commission requested advisory votes from member states on whether to maintain the existing tariffs on electric vehicles imported from China, which can...
silicon wafer

US Grants Taiwanese GlobalWafers $400 Million For Semiconductors

0
To boost America’s semiconductor supply chain, the US government has sanctioned $400 Million to GlobalWafers of Taiwan for increasing silicon wafer manufacturing. On Wednesday, the...

JSW MG Motor India Invests $30 Billion, Launches Cloud EV

0
Backed by $30 billion investment, JSW MG Motor India is ramping up production capacity to 300,000 units at its Halol plant, bolstering operations and...

Important Sectors

Finland Abstains On EU China EV Tariffs, Following Germany And Sweden

0
The European Commission requested advisory votes from member states on whether to maintain the existing tariffs on electric vehicles imported from China, which can...
silicon wafer

US Grants Taiwanese GlobalWafers $400 Million For Semiconductors

0
To boost America’s semiconductor supply chain, the US government has sanctioned $400 Million to GlobalWafers of Taiwan for increasing silicon wafer manufacturing. On Wednesday, the...

JSW MG Motor India Invests $30 Billion, Launches Cloud EV

0
Backed by $30 billion investment, JSW MG Motor India is ramping up production capacity to 300,000 units at its Halol plant, bolstering operations and...

Citroen Secures 500 E-Cars Order from Refex

0
Aiming to expand fleet operations across South India, Refex Green Mobility signed an MoU with Citroen for 500 e-C3 cars. On Wednesday, French automaker Citroen...

EDAG Group Launches Advanced EMC Center In Germany

0
The electromagnetic compatibility facility is equipped with cutting-edge technology and features several measuring halls. It allows comprehensive testing of products ranging from circuit boards...

Manufacturing

Cooper Standard Launches Ecoflow For Electric Vehicles

0
This scalable fluid control technology, which can be used across various powertrains, is particularly effective for managing the intricate glycol thermal needs of fully...

Economic Ties Strengthens Between Taiwan And India

0
According to the trade body Chairman, James Huang, Taiwanese firms relocate supply chains from China to India, boosting India’s manufacturing and bilateral trade. As global...

LeePra Chooses Delvitech’s 3D AI AOI System

0
Eyeing efficient quality monitoring, LeePra Technologies has partnered with Delvitech to include advanced AI solutions in its manufacturing units. Last week, EMS provider LeePra Technologies...

India, Russia Partners To Boost India’s Defence Capabilities

0
Backed by Russia, HAL aims to produce and export Sukhoi Su-30 fighter jets in Nashik to enhance India's aerospace prowess and export potential. India's state-owned...

Zapp And Bounce Infinity Partner On Scooter Production at Bhiwadi Plant

0
The partnership will facilitate the manufacturing and distribution of Zapp's i300 electric urban motorcycles across India. Zapp Electric Vehicles Group Limited has unveiled a strategic...