Korean EV battery maker LG Energy going public at record $55B valuation
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Korea's largest EV battery maker LG Energy Solution, controlling nearly 25% of the global market, has begun taking orders for an IPO that would make it Korea's largest.
With customers like GM (NYSE:GM), Ford (NYSE:F), Tesla (NASDAQ:TSLA), and Volkswagen (OTCPK:VWAGY), LG Energy Solution is set to fetch $10B+ in the IPO at a valuation of $55B, surpassing the valuation of its parent LG Chem (OTCPK:LGCLF).

The IPO bookrunners will look to place 42.5M shares, with 34.0M being primary shares, and the remainder being sold by the Parent.
A portion of the proceeds will likely be used to fund a settlement with GM related to defective Chevy Bolt batteries.