IPO New Milestone LG Energy Solution Debuts on Stock Market... Jumps to 2nd in Market Capitalization

On the morning of the 27th, Kwon Young-soo, CEO of LG Energy Solution, delivered a commemorative speech at the ceremony celebrating LG Energy Solution's new listing on the KOSPI, held at the Korea Exchange in Yeouido, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Lee Seon-ae] LG Energy Solution, which made history as the largest IPO in the domestic stock market, debuted on the stock market on the 27th. Proving its overwhelming popularity, which recorded record-breaking success from demand forecasting to general subscription, it rose to become the second largest in the KOSPI market. The opening price was set at 597,000 won, slightly below twice the public offering price. The market capitalization at the opening exceeded 120 trillion won, overwhelmingly surpassing SK Hynix (around 86.6 trillion won).

From the first day of listing, it demonstrated the status of a liquidity black hole. In the first 10 minutes after the market opened, LG Energy Solution's trading volume reached 2.1 trillion won, accounting for about 80% of the total KOSPI trading volume (around 2.62 trillion won).

However, it did not meet expectations before entering the stock market. The volume began to pour out mainly from the underwriter KB Securities and foreign securities firms. Although it started at 597,000 won, nearly twice the public offering price (300,000 won), it plunged more than 20% shortly after the opening, falling to 450,000 won.

Meanwhile, LG Energy Solution set new records in the IPO market. This is the first time the public offering amount exceeded 10 trillion won in the KOSPI market. In demand forecasting targeting domestic and foreign institutional investors, it set the highest record with a competition rate of '2023 to 1.' For the first time in history, it gathered an order amount in the 'gyeong' unit (1,520.3 trillion won). In the public subscription for general investors, it achieved the largest record with subscription deposits of about 114.1066 trillion won, and the number of subscription participations (4,424,470 cases) also set a new record since the ban on duplicate subscriptions.