LG Energy reaches a $99 billion valuation on the first day

After raising $10.6 billion in the largest-ever initial public offering, in the history of the South Korean market, the stock prices on LG Energy Solution Ltd. increased by 68% on the first day of trading. LG Energy is one of the biggest and leading EV battery production companies second only to China’s CATL. It has some of the world’s well renowned and leading companies as its clients including the globally recognized EV car manufacturers TESLA, General Motors Co., Hyundai Motor Co., etc. Despite market volatility being a major factor, the officials are pretty confident that the growth is quite composed and structured. This shows that there lies a promising growth in the field of electric and battery-related segment in the coming future.