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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] LG Electronics has begun the process of listing its Indian subsidiary on the stock market.
According to international reports on the 8th, the company recently submitted a Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI).
The DRHP is a document that discloses corporate governance and financial details to regulatory authorities to determine demand, public offering price, and listing date.
After a review period of approximately three months, LG Electronics will finalize the offering price and date following demand forecasting and obtain approval for the final prospectus (RHP). The Indian subsidiary is expected to be listed on the Indian stock exchange in the first half of next year.
Jo Joo-wan, CEO of LG Electronics, mentioned in an interview with Bloomberg Television in August that the company was considering listing its Indian subsidiary.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
