S.Korea’s LG Energy Solution sees record retail demand for IPO

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Reuters

By Heekyong Yang and Scott Murdoch SEOUL (Reuters) -Retail investors bid for a record 114 trillion won ($96 billion) worth of shares in the IPO of South Korean battery maker LG Energy Solution (LGES), adding to the frenzy for a piece of the biggest public offering in the country. Some 4.4 million individual investors ensured the retail portion of the initial public offering (IPO) was oversubscribed nearly 70 times at the end of the two-day bidding period on Wednesday, according LGES. The demand beat the previous record of battery material maker SK IE Technology Co Ltd (SKIET), which drew 81 tr…

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