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LG Energy Solution confirms price for potentially historic IPO

World's No. 2 EV battery maker aims to raise $11bn to help meet rising demand

SEOUL -- LG Energy Solution confirmed its initial public offering price on Friday, aiming to raise up to 12.8 trillion won ($10.8 billion) later this month on the Seoul stock exchange in what could be South Korea's biggest ever IPO.

The world's second-biggest electric vehicle battery maker will offer 42.5 million shares in late January at a price of 300,000 won per share, the company said after gauging institutional investors' appetite for the stock earlier this week as global demand for electric vehicle batteries increases sharply. A total of 1,988 investors at home and abroad expressed an intention to buy the stock.

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