SEOUL -- LG Energy Solution shares surged in their stock market debut on Thursday following South Korea's largest-ever initial public offering, with investors betting that soaring demand for electric vehicle batteries will spur the company's growth.
The stock price closed at 505,000 won ($420) per share, up 68.3% from its IPO price on the benchmark Kospi index, though pared gains after doubling at the start of trading. LG Energy Solution's market capitalization reached 118.2 trillion won, enough to land the company in second place on the index by market value after Samsung Electronics.
