LG Energy Solution: Battery giant jumps in market debut

South Korean battery maker LG Energy Solution has jumped in its stock market debut after becoming the country’s biggest ever share offering.

The shares briefly doubled from their initial public offering (IPO) price before settling at around 60% higher.

The company raised 12.8tn won (£7.9bn; $10.6bn) in the IPO earlier this month.

Thursday’s strong performance made LG Energy Solution one of the most valuable companies on Seoul’s benchmark Kospi stock index.

The IPO is Asia’s biggest equity fund raising since China’s Alibaba Group raised $12.9bn in its Hong Kong secondary listing in 2019.

–BBC

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