LG Electronics is reportedly starting an investment briefing (roadshow) for its initial public offering (IPO) in the Indian stock market.
Bloomberg reported on the 18th that LG Electronics aims to evaluate the corporate value of its Indian subsidiary at about $15 billion (approximately 21.6 trillion won) through this IPO and to raise between $1 billion and $1.5 billion (approximately 1.4 trillion won to 2.1 trillion won).
However, sources noted that relevant discussions are still ongoing and that details may change.
LG Electronics officially announced its listing plan by submitting a draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) at the end of last year. If the review proceeds smoothly, it will confirm the offering price and offering date through demand forecasting and undergo the process of obtaining approval for the final red herring prospectus (RHP).
Industry experts anticipate that LG Electronics' listing on the Indian stock market will occur around April to May, considering that the DRHP review typically takes about three months.
Cho Joo-wan, CEO of LG Electronics, mentioned last month, "The IPO of the Indian subsidiary is based on recognizing the potential of the Indian market," adding, "We want to become a beloved national brand in India."