LG Electronics India makes debut on Indian stock market

LG Electronics India (LGEI) began trading on the local stock market Tuesday (local time), with the listing bringing in 1.8 trillion won ($1.26 billion) in proceeds for its headquarters. LG Electronics headquarters renewed its commitment to the Indian market, announcing the company's “Make for India” vision and showcasing four new home appliances tailored to local lifestyles. The company said it held a listing ceremony for LG Electronics India (LGEI) at the National Stock Exchange of India (NSE) in Mumbai, attended by LG Electronics CEO Cho Joo-wan, Chief Financial Officer Kim Chang-tae, LGEI Managing Director Jeon Hong-ju and other top executives. Cho and NSE CEO Ashish Chauhan struck the ceremonial bell at 10 a.m. to mark the start of trading for LGEI. For the listing, LG Electronics unloaded a 15 percent stake, or 101.8 million shares, in LGEI in an offer for sale at 1,140 rupees per share, which was the top end of the subscription price band. The subscription drew the largest amount of funds in India’s initial public offering market since 2008, with bids totaling 54 times the sWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times