LG Energy IPO lock-up
LG Energy Solution (LGES) raised US$10.8bn in its South Korea IPO, after pricing at the top-end of the IPO price range. The stock was listed on 27th Jan 22. Its six-month lockup is set to expire soon.LGES is the EV battery unit of LG Chem. The company is a major supplier to customers including Tesla and General Motors.
In this note, we will talk about the lock-up dynamics and updates since our last note.
Our previous notes on the IPO and lock-up:
LG Energy Pre-IPO - First Look - Index Inclusion
LG Energy Pre-IPO - A dominant battery player with tricky issues
LG Energy Pre-IPO - Industry and competitive landscape - LGES will remain a dominant player
LG Energy Pre-IPO - All things valuation - LGES inexpensive, potential LG Chem trade leading up to IPO.
LG Energy IPO - Peer updates + Blue sky and bear case
LG Energy IPO Trading - Allocations, Index, and Updates
LG Energy IPO lock-up - Some might be tempted to book profits
LG Chem is engaged in the business of chemicals and polymers, industrial materials and information and electronic materials. Co. provides polyvinyl chloride products, plasticizers, polyethylene compounds, acrylic acids, engineering plastics, elastomers and conductive resins. Co. also manufactures lithium-ion batteries, printed circuit materials, toner, photosensitive materials, and organic light-emitting diode (OLED) materials.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
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