INSUBCONTINENT EXCLUSIVE:
has picked banks for a potential initial public offering of its Indian business that could raise as much as $1.5 billion, according to
people familiar with the matter.
LG has tapped banks including Bank of America Corp., Citigroup Inc., JPMorgan Chase - Co
and Morgan Stanley as arrangers for an IPO that may take place as early as next year, the people said
LG may seek to raise $1 billion to $1.5 billion from the share sale, which could give LG Electronics India Pvt Ltd
It may add more banks, including local ones at a later stage, they added.
Representatives for LG, Bank of America, Citigroup and JPMorgan
is planning to sell shares in its local Indian unit this year in what could be one of the biggest-ever listings in the South Asian country,
target of $75 billion in electronics revenue by 2030 and revitalize its consumer electronics business, Chief Executive Officer William Cho
said in a Bloomberg Television interview in August.First Published: Sep 14 2024 | 1:35 PMIST
