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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  LG Chem, Ltd.    A051910   KR7051910008

LG CHEM, LTD.

(A051910)
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LG Chem in $1.1 billion deal with China's Shanshan to sell LCD polarizer business

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06/09/2020 | 10:12pm EDT

South Korea's LG Chem Ltd said on Wednesday it has signed a conditional contract with China's Ningbo Shanshan Co Ltd to sell most of its liquid crystal display (LCD) polarizer business for $1.1 billion.

The chemicals and battery maker said some of its LCD polarizer business including those for automobiles would be excluded from the sale. Polarizers improve the display function in products.

"We are going to focus on strengthening our competitiveness in tech materials, especially organic light-emitting diode (OLED) and nurture our OLED polarizer business," LG Chem said in a statement.

The company said the deal is pending approval from its board of directors, and the terms are subject to change. It said it plans to make another announcement once the deal is finalized.

Ningbo Shanshan said on Tuesday it plans to raise up to 3.1 billion yuan ($438 million) in a share placement to fund acquisition of a majority interest in LG Chem's LCD polarizer business in China, Taiwan and South Korea.

(Reporting by Heekyong Yang and Joyce Lee; Editing by Shri Navaratnam and Muralikumar Anantharaman)


Stocks mentioned in the article
ChangeLast1st jan.
CHANGE INC. 3.40% 8510 End-of-day quote.485.28%
LG CHEM, LTD. 1.58% 642000 End-of-day quote.102.20%
LG CORP. 1.84% 72000 End-of-day quote.-2.44%
NINGBO SHANSHAN CO.,LTD. 5.08% 12.4 End-of-day quote.33.09%
THE NEW HOME COMPANY INC. 2.05% 5.22 Delayed Quote.12.02%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.25% 6.7254 Delayed Quote.-3.48%
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Financials
Sales 2020 30 206 B 26,6 B 26,6 B
Net income 2020 1 509 B 1,33 B 1,33 B
Net Debt 2020 8 037 B 7,09 B 7,09 B
P/E ratio 2020 30,8x
Yield 2020 1,04%
Capitalization 46 037 B 40 795 M 40 604 M
EV / Sales 2020 1 524x
EV / Sales 2021 1 217x
Nbr of Employees -
Free-Float 58,0%
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Technical analysis trends LG CHEM, LTD.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 29
Average target price 881 678,57 KRW
Last Close Price 632 000,00 KRW
Spread / Highest target 89,9%
Spread / Average Target 39,5%
Spread / Lowest Target -28,8%
EPS Revisions
Managers
NameTitle
Hak Cheol Shin Vice Chairman & Chief Executive Officer
Okdong Son President
Jin-Soo Park Vice Chairman
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
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