LG Electronics IPO: South Korea’s giant company LG Electronics may launch its IPO (Initial Public Offering) in India. The company is seriously considering this. LG Electronics has set a target of 75 billion dollars revenue for its business in India by 2030. To achieve this, the company is considering listing the company on the Indian Stock Exchange.
According to a Bloomberg report, LG Electronics CEO William Cho said that listing the company on the Indian stock market is one of the key options to revive the decades-old consumer electronics business. This is the first time LG Electronics has said anything about listing on the Indian stock market, although speculations have been going on about it for a long time.
William Cho took over as CEO in 2021 after working with LG Group for three decades. He has set a target of $75 billion annual revenue for the consumer electronics business by 2030. Whereas in the year 2023, the company’s revenue was $65 billion. On a question related to the company’s possible IPO launch in India, William Cho told Bloomberg Television, this is one of the many options we can consider. He said, there is a lot of curiosity about this among global investors. But nothing is decided at the moment.
LG Electronics is not the first South Korean company whose IPO is being discussed. Korean giant automobile company Hyundai Motor is also going to launch its IPO in India, for which the company has filed its draft papers with the stock market regulator SEBI. The company is preparing to sell 17.5 percent stake in the IPO. Hyundai Motors can raise a total of 3 billion dollars i.e. about Rs 25,000 crore through IPO. That is, this is going to prove to be the biggest IPO of the Indian stock market. After approval from SEBI, Hyundai Motor’s IPO is expected to come by Diwali this year.
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