LG Electronics: The products of South Korean MNC LG Electronics are very popular in India. Now the company is preparing to bring an IPO for its expansion in India. The company is going to bring a huge IPO of about 1.5 billion dollars. For this, LG Electronics has selected many banks. It is being claimed that LG has handed over the responsibility of its IPO to Bank of America, Citigroup Inc, JPMorgan Chase and Morgan Stanley.
IPO will raise the valuation of LG Electronics to $13 billion
India is a big market for LG Electronics India. It wants to strengthen its position here. The company’s IPO may come early next year. During this IPO, shares worth 1 to 1.5 billion dollars can be launched in the market. After the success of the IPO, the valuation of LG Electronics in India will be around 13 billion dollars. According to the Economic Times report, the company has not confirmed anything about this at the moment. The size and date of this IPO can change. But, the company is definitely busy with its preparations for the IPO.
The company may submit its IPO documents to SEBI next month
The report claims that LG Electronics may submit IPO documents to stock market regulator SEBI next month. Apart from this, other banks can also be brought together for the IPO. Some of these may also be Indian banks. According to a report by Bloomberg News, the Indian market has become an important place for foreign investors. Hyundai Motor Company also recently gave information about its IPO plan. LG has also set a target of increasing its revenue to $ 75 billion by the year 2030. This IPO is going to play an important role in this.
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