LG Electronics is eyeing $15B valuation for Indian IPO: Report
LG Electronics is eyeing an IPO for its Indian unit, which could be valued at as much as $15 billion. The South Korean tech giant plans to launch a formal roadshow for the IPO in the next two months and list in Mumbai in the first half of 2025. This comes after LG had first aimed for a valuation of about $13 billion, Bloomberg News reported.
LG Electronics to sell over 100 million shares
Earlier this month, LG Electronics submitted a draft red herring prospectus with Indian regulators. The document details the firm's plan to sell as many as 101.82 million shares. The IPO will be handled by a number of leading financial institutions including Morgan Stanley, Citigroup, JPMorgan Chase, Axis Capital, and Bank of America.
It could raise up to $1.5 billion
LG Electronics is expected to raise between $1 billion and $1.5 billion through this IPO, people familiar with the matter said. The final valuation may vary depending on investor demand. Despite LG's stocks falling 13% this year in Seoul, giving the firm a market value of $10 billion, it has been gaging preliminary interest from potential investors for its Indian unit's IPO.
