Chief Executive Cho Joo-wan, who also goes by his English name William Cho, said an Indian market debut is one of several options the company is weighing to revitalize its consumer electronics business.“It (an Indian IPO) is one of many options we can consider,” Cho told Bloomberg Television in a recent interview in Seoul.“I understand there’s increased interest among global investors,” he said, referring to a potential IPO in India.“As of now, nothing is confirmed.” The CEO said LG has been “watching carefully what’s going on in the Indian market in terms of IPOs and following similar industry and similar IPO cases.”However, the company hasn’t yet reviewed possible valuations for its Indian unit, he said.
LG Electronics Inc., a leading South Korean home appliance maker, is considering an initial public offering of its Indian business to help achieve a target of 100 trillion won ($75 billion) in LG’s annual electronics revenue by 2030.
He was responding to a recent market and media speculation that LG might tap the booming Indian stock market to expand its business in the Southeast Asian country and achieve its ambitious global electronics revenue goal.
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