LG Ensol listing, 2nd place in market cap despite failure of ‘Dasang’… Closing 505,000 won (total)

68.3% higher than the public offering price… “Intensive selling by foreigners who have not pledged to hold the obligation”

The daily trading volume exceeds 8 trillion won… LG Group ranked second in market cap over SK

(Seoul = Yonhap News) Reporter Chae Sae-Rom = LG Energy Solutions failed to hit the ‘dasang’ (the upper limit after double the IPO price) on the 27th, when it entered the stock market, but ended at a price that was nearly 70% higher than the IPO price.

As a result, LG Energy Solutions ranked second in KOSPI market capitalization, and LG Group overtook SK Group to become second in the group’s combined market capitalization.

In the stock market that day, LG Energy Solutions closed at 505,000 won, down 15.41% from its opening price of 597,000 won.

Compared to the public offering price of 300,000 won, it rose 68.3%. Earnings per share is 205,000 won.

As the starting price of LG Energy Solution was set at 597,000 won, which is less than twice the IPO price, it was unable to achieve ‘Tasang’ as well as ‘Ta (double the IPO price)’.

The share price fell to 450,000 won in the early part of the market, but in the afternoon it crossed the 500,000 won level and the decline decreased.

Foreigners sold 1.5 trillion won worth of stocks, pulling down the stock price, and individuals net sold 1.4 trillion won worth. On the other hand, institutions net bought about 3 trillion won. In particular, pension funds net bought about 2 trillion won.

Seo Sang-young Mirae Asset Securities[006800] The researcher said, “Foreigners who were assigned an institution without making a commitment to hold the obligation sold all of their stock immediately after listing, and the institution received all of this amount.”

According to the LG Energy Solution Securities Issuance Report, 58.3% of the 23,375,000 shares allocated to institutions, or 13,629,000 shares, made a commitment to hold them compulsorily.

Most of the amount of domestic institutional investors made a mandatory holding commitment, but only 27.1% of the foreign institutional investor’s volume was a mandatory holding commitment.

Based on the closing price, the market cap of LG Energy Solutions is 118.2 trillion won.

Upon listing, SK hynix[000660](82.6 trillion won), Samsung Electronics[005930](425.6 trillion won) is the second largest market cap.

With LG Energy Solution’s entry into the stock market, the combined market capitalization of the LG Group was 237.3 trillion won, surpassing the SK Group (178.8 trillion won) and ranking second after the Samsung Group (656.4 trillion won). This is the first time that the combined market cap of LG Group has exceeded 200 trillion won.

On the first day of listing, LG Energy Solutions’ daily trading volume reached 8.8 trillion won. This is close to half of the total trading value of the KOSPI (about 19 trillion won) on the same day.

Due to the rush of trading at the beginning of the market, service delays were also observed in the Home Trading System (HTS) and Mobile Trading System (MTS) of some securities companies such as Hi Investment & Securities.

The fair price of LG Energy Solution suggested by the securities company is in the range of 390,000 to 610,000.

srchae@yna.co.kr

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2022/01/27 18:31 Send