South Korea’s LG Energy Solution IPO attracts around $80bn in bids

South Korean battery maker LG Energy Solution’s (LGES) $10.7 billion initial public offering (IPO) has received bids worth around $80 billion from institutional investors, two sources with direct knowledge of the deal said.

The book for the offering will close on Wednesday with deal pricing set for Friday. LGES did not immediately respond to a Reuters request for comment.

The sources could not be named as the information was not yet public.