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IPO

LG Energy Solution unveils plan for South Korea's biggest IPO

World's No. 2 EV battery maker aims to raise $11bn to expand capacity

South Korea's LG Energy Solution sees promise in booming demand for electric vehicle batteries.   © Reuters

SEOUL -- LG Energy Solution unveiled an ambitious plan for its initial public offering, aiming to raise up to 12.8 trillion won ($10.9 billion) next month on the Seoul stock market as global demand for electric vehicle batteries increases sharply.

The world's second-biggest EV battery maker will offer 42.5 million shares next month with a price between 257,000 won and 300,000 won per share, according to a securities registration form filed with the Korea Exchange late Tuesday.

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