LG Electronics Gears Up for Major Indian IPO with Chairman Kwang Mo Koo's Visit

LG Corporation Chairman Kwang Mo Koo visits India to review the performance and preparations for LG Electronics India's IPO. The initial public offering involves selling a 15% stake, potentially raising USD 1.5 billion. The IPO marks LG as the second South Korean company to enter the Indian stock market.

LG Corporation's Chairman and CEO Kwang Mo Koo is currently on a two-day visit to India as the company's Indian unit gears up for its proposed initial public offering (IPO), according to industry experts.

During his visit, Koo is engaging with senior leaders from LG Electronics India, including the Managing Director, to assess performance and oversee the company's IPO preparations. Investment proposals for the Indian market, a major area for the South Korean conglomerate, are also on Koo's agenda.

Last week, LG Electronics initiated roadshows for the IPO, which is expected to involve selling over 10.18 crore shares—a 15% stake that could generate up to USD 1.5 billion. This IPO will follow the listing of Hyundai Motors India Ltd, positioning LG Electronics as the second South Korean firm to enter the Indian market.

(With inputs from agencies.)