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LG New Energy launches the listing process and plans to raise more than 57.3 billion yuan in IPO fin

Large  Small Date:2021-06-10  Author:Katherine Peng
According to news on June 9, according to South Korean media, LG EnergySolution, a battery business subsidiary of LG Chem Ltd, plans to make an initial public offering (IPO) before the end of this year, and officially listed on the Korean stock exchange. , The valuation may reach 100 trillion won (approximately 573.3 billion yuan), which is expected to set the record for the largest IPO in South Korea.
 
It is understood that the industry generally believed that the corporate value of LG New Energy was at least 50 trillion won (approximately RMB 295.3 billion). In view of the ultra-high-speed growth of the storage battery industry, its corporate value may be as high as 100 trillion won.
 
On June 8, the South Korean investment community revealed that LG New Energy had applied to the Korean Stock Exchange for preliminary review of listing on the securities market on the same day. It is expected to go public in the third quarter of this year, and the fund-raising scale may exceed KRW 10 trillion (approximately RMB 57.3 billion).
 
According to the data currently released by LG New Energy, the company expects sales of 13 trillion won in 2020, and plans to achieve sales of more than 30 trillion won in 2024; in terms of production capacity, the company's production capacity will increase from 2020 by the end of 2021. The annual 120GWh increased to 156GWh, an increase of 30%. , It is expected that the production capacity will be further increased to 260GWh by 2023.
 
At present, the market believes that the main reason for LG New Energy to achieve a substantial increase in net profit in the first quarter of fiscal 2021 and achieve a turnaround is that its lithium battery production and manufacturing costs have been reduced, and the shipment of power batteries has increased significantly. And then improve the company's profitability.
 
However, LG New Energy has many worries. The main impact is that a series of fire accidents involving electric vehicles and energy storage systems have caused LG New Energy to directly bear huge amounts of compensation, which may have a great negative impact on its net profit in the second quarter and even the whole year.
 
However, there is the latest news that LG New Energy's new NCMA battery with a nickel content of up to 90% may be used in the Tesla Model Y model produced by Shanghai Gigafactory in July. This is good news for LG New Energy. Or it will benefit the future development of the company.
 
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