LG Energy Solution, the world's second-largest battery maker, wrapped up its two-day public subscription, backed by overwhelming demand.
Retail investors rushed to make last minute bids for shares in one of this year's most anticipated initial public offerings.
"I came here to bid for shares after hearing that LG Energy Solution is going public. I'm really interested in stocks and I am willing to do more IPOs in the future as well."
In the final hours, enthusiastic investors chipped in a record-breaking amount of deposits.
And by 4PM Wednesday, the company received 95.6 billion U.S. dollars in deposits from 4.4 million retail investors.
The figure is far higher than the previous record of 68 billion dollars set by SK ie technology in April last year.
The company is now heading to make an initial public offering this month.
Through its IPO, LG Energy Solution is expected to raise almost 11 billion U.S. dollarsin what will be the country's biggest-ever IPO.
It plans to sell a total of 42.5 million shareswith an initial public offering price set at about 250 dollars apiece.
Upon listing, the company will be valued at around 59 billion U.S. dollars.
It will be the third-biggest listed company on South Korea's main bourse KOSPI after Samsung Electronics and SK hynix.
According to the company, most of the funds from the IPO will be used to expand its battery manufacturing facilities both at home and abroad.
"The company plans to make a trading debut on the country's main bourse KOSPI next Thursday.
Min Suk-hyen, Arirang News."