LG Chem: Flurry of Asset Sales Raises the Probability of A Partial Sale of LG Energy Solution

There were numerous local media accounts that mentioned LG Chem is in discussions with several securities firms to raise 2-3 trillion won using its stake in LG Energy Solution as collateral, through a PRS (price return swap) method. A 3% stake of LGES would be worth 2.4 trillion won (US$1.7 bn). LG Chem needs additional capital to improve its financials and further invest in its core business.