LG Energy Doubles in Debut After Korea’s Biggest IPO on Record
- Shares jump 68% in trading debut for a $98 billion market cap
- Battery maker becomes second-largest Korea stock after Samsung
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South Korea’s LG Energy Solution soared in its first day of trading in Seoul, following the country’s biggest initial public offering on record.
The world’s second-largest battery maker soared to close 68% above its IPO price of 300,000 won, even as the nation’s benchmark Kospi tumbled into a bear market. Now worth over $98 billion, it’s bigger than every other listed Korean company except Samsung Electronics Co.