LG's $11 bln battery spinoff is just the start of a regional deal frenzy that also includes CATL’s $7 bln share sale. Unlike in Chinese tech, govt. policies are lifting growth and valuations. For now, investors will go along for the ride, says mak_robyn
In China, the world's biggest electric-vehicle market by sales, CATL is targeting a $7 billion private share placement as smaller China Lithium Battery Technology eyes a $1 billion Hong Kong offering. Overall, at least $32.5 billion of equity raisings from Asian electric-vehicle companies are in the pipeline, IFR estimates. Sony is among the many others whose aspirations in the industryValuations are turbo-charged.
- The company will sell 34 million new shares at 257,000 won to 300,000 won per share. Parent LG Chem also will sell 8.5 million secondary shares. At the top of the price range, LGES will be valued at 70.2 trillion won on a fully diluted basis.Register now for FREE unlimited access to Reuters.comSign up for our newsletter
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