South Korea’s LG Electronics Inc. has picked banks for a potential initial public offering of its Indian business that could raise as much as $1.5 billion, according to people familiar with the matter.
LG has tapped banks including Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley as arrangers for an IPO that may take place as early as next year, the people said. LG may seek to raise $1 billion to $1.5 billion from the share sale, which could give LG Elect ..
Deliberations are ongoing, and details including the size of the offering and timing could still change, the people said, asking not to be identified as the information isn’t public.
The company may file a prospectus with India’s stock market regulator as early as next month, the people said. It may add more banks, including local ones at a later stage, they added.
