SEOUL (Reuters) – South Korea’s LG Energy Solution Ltd (LGES) saw its shares nearly double in value from their initial public offering (IPO) price on their trading debut on Thursday.
LGES shares opened at 597,000 won on debut on the KOSPI versus an IPO price of 300,000 won. But the shares fell more than 10% in early trading.
The battery maker raised 12.8 trillion won ($10.69 billion) from its IPO, South Korea’s biggest-ever.
($1 = 1,197.0300 won)
(Reporting by Jihoon Lee; Editing by Christopher Cushing)
