LG Electronics India is seeking a valuation of up to 774 billion rupees ($8.71 billion) in a long-delayed initial public offering, entering the booming IPO market with India’s biggest public offering so far this year.
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LG Electronics shares rose as much as 23.95% after the company announced a series of automotive innovations built using LG Electronics’ technology. Alphabet Co., Ltd.Google.
The South Korean company said its new suite of solutions is built on the Android automotive operating system. LG says that by using a single-on-chip, its system can control multiple displays with different aspect ratios simultaneously, which is different from other traditional in-vehicle display systems.
“This solution helps automakers significantly reduce the cost of implementing multi-display in-cabin systems,” LG said.
The Android automotive operating system is in high demand because it allows drivers to access apps in the car without using a smartphone. Future Market Insights estimates that the global Android car OS market is valued at $895.6 million in 2025 and is expected to reach $2.14 billion by 2035.
The stock price recently increased by 23.95% to trade at 279,500 won.
