Assisi Chodia, Founder and Board Member, Shares Year-End Message
"U.S. IPO Progressing Smoothly"
"Legal Disputes in the U.S. Do Not Affect IPO Preparations"
LG Ad Solutions, a subsidiary of LG Electronics, announced that its ongoing initial public offering (IPO) efforts in the United States are proceeding smoothly.
On December 11, Assisi Chodia, Founder and Board Member, shared a year-end message outlining the company's preparations for its U.S. stock market listing and the strategic direction for next year's business.
In this message, he stated, "We have entered the full-fledged stage of preparing for our listing by confidentially submitting the S-1 registration statement to the U.S. Securities and Exchange Commission (SEC)." He added, "While certain legal matters involving some founders and shareholders are currently underway in courts in Delaware and California, these are related to long-term governance issues. They do not affect Alfonso's day-to-day business operations or IPO preparations, and we remain fully focused on executing our strategy without disruption."
LG Electronics acquired a 65.7% stake in Alfonso in 2020 through its U.S. subsidiary, Zenith Electronics. However, the company has recently become embroiled in a management dispute, including being sued for damages by some co-founders.
Alfonso identified next year's advertising media trends as the acceleration of AI-based targeting and content optimization, the mainstreaming of the Connected TV (CTV) and Free Ad-Supported Streaming TV (FAST) markets, and the advancement of privacy-centric data strategies.
Chodia emphasized, "Through close collaboration with LG Smart TV, Alfonso is at the center of redefining advertising strategies and content curation within the CTV environment. We are setting new industry standards through highly precise TV-based data models."
He also noted, "Korea is increasingly important not only as a simple Asian hub, but as a center for strategic technology partnerships and consumer insights. We will continue to strengthen investment and cooperation in the Korean market next year as well."
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