LG Energy Solution jumps in debut to become S.Korea's second-most valuable [Reuters]
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attracted bids worth $13 trillion, making it the country's second-most valuable company. LGES shares opened at 597,000 won versus an initial public offering (IPO) price of 300,000 won. But the shares fell as much as 25% in early trading. LGES has become South Korea's second most-valuable company after Samsung Electronics Co Ltd (005930.KS) with a market valuation reaching over 105.3 trillion won ($87.62 billion), even at the lowest intra-day trading level. Spun out of LG Chem Ltd , the firm commands more than 20% of the global electric vehicle (EV) battery market. It supplies Tesla Inc (TSLA.O) , General Motors Co (GM.N) and Volkswagen AG (VOWG_p.DE) among others. Its trading debut will set the tone for upcoming IPOs in South Korea as retail investors - known as "ants" - flock to the stock market with liquidity aided by the government's stimulus policy during the COVID-19 pandemic. "It is quite tricky to predict LGES' first-day trading performance, mainly because of the mark
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