LG New Energy's public offering subscription amount exceeded 600 billion yuan, setting a record in South Korea

Yonhap News Agency reported on January 19 that according to the news of south Korean financial investment industry on the 19th, LG New Energy's initial public offering (IPO) subscription application for retail investors ended on the same day, and the cumulative subscription amount and subscriber number both set a record in South Korea.

According to reports, the sum of the subscriptions of seven securities companies, including KB Securities, Shinhan Financial Investment, and Daxin Securities, reached 114.06 trillion won (about 611.29 billion yuan), which is more than 30 trillion yuan more than the previous record (81 trillion won) held by SKIET, a material subsidiary of SK Innovation. The number of LG New Energy public offering subscriptions accepted by major securities companies was 4.424 million, which also hit a record high.

LG New Energy accepts retail public offering applications until the same day and will be officially listed on the 27th. The public offering price is 300,000 won per share, and the opening price will be determined by a collective auction between 90 and 200% of the public offering price 30 minutes before the opening of the listing day. Based on the public offering price, LG New Energy's total market value reached 70.2 trillion won, second only to Samsung Electronics and SK Hynix.