LG Display Completes 1.3 Trillion Won Rights Offering Fully Subscribed by Shareholders

Strengthening OLED Competitiveness

LG Display's rights offering worth 1.3 trillion KRW was fully subscribed in the shareholder allocation public offering.

LG Display announced on the 8th that the subscription rate reached 104.91% following the subscription conducted on the 6th and 7th for the employee stock ownership association and existing shareholders.

LG Display Paju Plant view. [Photo by LG Display]

The number of shares offered in this subscription was 142,184,300 shares, and the subscribed shares totaled 149,166,889 shares, including 15,974,929 shares of oversubscription.

The employee stock ownership association subscribed to 28,436,860 shares, and existing shareholders subscribed to 107,551,000 shares. The number of forfeited and fractional shares was 49,757 shares, and the general public subscription is scheduled to take place on the 11th and 12th. The new shares are expected to be listed on the 26th.

The total funds LG Display plans to raise through the rights offering amount to 1.2924 trillion KRW. LG Display intends to proactively secure resources through this to strengthen competitiveness and future growth foundations across all areas of its organic light-emitting diode (OLED) business.

In particular, out of the 415.9 billion KRW allocated for facility investment, 103.8 billion KRW will be spent on new IT OLED, 95.2 billion KRW on expanding small OLED for mobile, and 103.3 billion KRW and 113.6 billion KRW will be used for automotive OLED and maintenance supplementary investments, respectively.