[Alpha Biz=(Chicago) Reporter Paul Lee] LS Materials, a subsidiary of LS Cable & System, will promote listing. The corporate value of the company, which operates a secondary battery material business, is estimated at 400 billion won to 500 billion won.
LS Materials announced on March 3 that it has signed a contract with KB Securities and Kiwoom Securities as a co-representative of the Initial Public Offering (IPO). It plans to request a preliminary review from the KOSDAQ market headquarters of the Korea Exchange by June and complete the listing process on the KOSDAQ market by the end of this year.
LS Materials stands out in the field of ultracapacitor (UC), which is known as the next-generation energy storage unit (ESS). It ranked first in the global market share in the large UC sector. UC has a short high-speed charging time and a long life span. It is used for wind turbine and semiconductor plant uninterruptible power supply (UPS).
The aluminum business for secondary batteries is also expanding. Last month, it signed a contract with HAI of Austria, the world's No. 1 electric vehicle aluminum material company, to establish an aluminum-based joint venture.
The two companies plan to invest 67.5 billion won in the future to mass-produce high-strength and lightweight aluminum components for electric vehicles from 2025.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
