SEOUL, Jan 27 (Reuters) - LG Energy Solution Ltd (LGES)...

SEOUL, Jan 27 (Reuters) - LG Energy Solution Ltd (LGES) (373220.KS) on Thursday saw its stock price soar 68% on its trading debut following a record IPO, catapulting the electric vehicle (EV) battery maker to the rank of South Korea's second-most valuable company.

The convincing debut sets the stage for what analysts expect to be another bumper year for Korean initial public offerings (IPO), with a lack of mega-deals elsewhere in Asia seeing more institutional investors turn their attention toward the country.

But it was the worldwide trend toward the electrification of transport that spurred almost 2,000 prospective foreign and domestic institutional investors to lodge bids worth an eye-watering $12.8 trillion in LGES' IPO, hoping to bag shares in a company boasting a fifth of the EV battery market and with a client roster featuring heavyweights such as General Motors Co (GM.N), Volkswagen AG (VOWG_p.DE) and Tesla Inc (TSLA.O).

LGES stock began trade at 597,000 won, almost double the 300,000 won price set in South Korea's biggest-ever IPO.

https://www.reuters.com/markets/eur...illion-frenzy-skoreas-biggest-ipo-2022-01-26/