LG Electronics Gains More Than 11% on News of U.S. Subsidiary’s Nasdaq Listing Bid [Stock NOW]

[Financial News] LG Electronics is trading more than 11% higher in early trading, buoyed by news that its U.S. subsidiary is seeking a Nasdaq listing.
According to the Korea Exchange (KRX) on the 7th, LG Electronics was trading at 225,000 won as of 9:30 a.m., up 11.66% from the previous trading day. The stock opened at 208,000 won, up 3.22% from the previous session, and climbed to 226,000 won, a 12.15% gain, at around 9:27 a.m.
The move followed reports that Bear Robotics, LG Electronics’ U.S. robotics startup subsidiary, is pursuing a Nasdaq listing. Bear Robotics is reportedly seeking pre-IPO funding from domestic and overseas private equity funds, with Bank of America (BoA) serving as the lead manager, as it targets a Nasdaq listing.
LG Electronics invested $60 million in Bear Robotics in March 2024 to acquire a 21% stake. It later acquired additional shares by exercising a call option. As of the end of the first half of the year, LG Electronics held a 56.9% stake in Bear Robotics.
[email protected] Lim Sang-hyuk Reporter