[Courtesy of LG Chem]
SEOUL -- South Korea's top battery maker LG Chem will issue convertible bonds worth 600 million US dollars on the stock exchange in Vienna in a bid to raise money for an investment abroad.
LG Chem said Tuesday that the three-year unguaranteed bonds to be issued in US dollars and Euros together would carry a zero interest rate. The company said it was able to be listed on the stock exchange in Vienna for the first time as a South Korean company, demonstrating its growing credibility among international investors.
LG Chem's decision to build a battery plant for electric vehicles in Poland reflects its strategy to diversify the source of revenue. China has stopped subsidizing EV manufacturers using foreign parts.
reporter
Lim Chang-won
cwlim34@ajunews.com
