LG Chem eyes biopharmaceutical unit as next growth driver
Posted : 2021-02-10 15:21
By Nam Hyun-woo
LG Chem is raising funds to invest in new sources of income after spinning off its lucrative electric vehicle (EV) battery business. Industry sources say the company s biopharmaceutical division is highly likely to be its next main growth driver and recipient of massive investments.
According to industry officials, LG Chem on Tuesday held a book-building session for institutional investors to raise 600 billion won ($540.8 million) by issuing corporate bonds. Investors placed 2.56 trillion won worth of orders, which is more than four times the amount LG Chem sought to raise.
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