New Delhi: South Korean white goods major LG has reportedly tapped investment banks for a potential IPO valued at around $1.5 billion. The Bank of America, Citigroup, JP Morgan Chase and Morgan Stanley have reportedly been tapped by LG for the public issue. The potential listing is expected to open next week.
LG Electronics IPO details
The South Korean consumer goods maker is eyeing a $1-1.5 billion fundraising at a valuation of $1.5 billion, Bloomberg News reported, citing people familiar with the matter. To be sure, LG is still in the process of determining the IPO size. The IPO prospectus may be filed as early as next month, the people added.
Representatives of the banks cited above and LG refused to comment on the matter, Bloomberg reported. Morgan Stanley did not respond to requests for comment after the end of business hours, according to the report.
This is a developing story. More to follow
LG Electronics IPO: The South Korean white goods maker is likely to have tapped investment banks to discuss its potential $1.5 billion listing next year. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
