LG CNS is biggest stock listing in Seoul in three years
LG CNS said it will invest the funds raised from its IPO in its artificial intelligence, cloud and smart factory businesses. © Reuters
SEOUL — The artificial intelligence unit of South Korean conglomerate LG made its debut on Seoul's stock market Wednesday after completing the country's biggest initial public offering in three years.
LG CNS went public at an opening price of 60,500 won, down 2.3% with its IPO price of 61,900 won. Its market value came to 5.7 trillion won, making it the 67th biggest on the benchmark KOSPI index. The shares nosedived soon after the opening, falling as much as 8.6% at one point.
LG's artificial intelligence unit has lackluster market debut – Nikkei Asia
