The Seoul-based company says it plans to use the majority of the proceeds it raised to expand production capacity to keep pace with rising demand for electric vehicles
The stock closed at 505,000 won on the Korea Exchange, 68% above its initial public offering price of 300,000 won. LG Energy Solution currently has a market capitalization of 118 trillion won , making it the second-largest listed company in Korea, after Samsung Electronics.
LG Energy Solution raised 12.75 trillion won in its float, more than double the previous record set in 2010 by Samsung Life Insurance. The Seoul-based company says it plans to use the majority of the proceeds to expand production capacity to keep pace with rising demand for electric vehicles. LG Energy Solution
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