It was reported in the local media that LG Chem is close to selling about 2 trillion won worth of LG Energy Solution, which is likely to pose overhang on LG Energy Solution's share price.
Boomeranged on Tue, 11 Jul 2023 18:08
On 11 July, LG Chem announced that it would issue foreign currency exchangeable bonds worth US$2 billion (2.6 trillion won) to raise funds to expand into its rechargeable battery materials. The exchange target for exchangeable bonds is LG Energy Solution common stock. About three weeks ago, LG Chem gave clues about a major potential capital raise.
SUMMARY
(Sign Up to Access)
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.