SEOUL -- LG Electronics announced on Tuesday that the company's boardroom approved its plan to sell a 15% stake in its Indian subsidiary as part of a long-awaited initial public offering, accelerating the process after months of market uncertainty.
IPO
LG Electronics to sell 15% stake in Indian subsidiary through IPO
South Korean consumer tech company expects to raise $1.3bn
An Indian salesperson shows off an LG washing machine. Through a secondary offering, the South Korean consumer electronics maker will offload 101.8 million existing shares in LG Electronics India. (Photo by Takanori Okabe)
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