LG CNS Draws $14,68 Billion in IPO Subscriptions Amid Market Slump
LG CNS, a subsidiary of LG Group, has successfully attracted $14,68 billion in subscription deposits during its initial public offering (IPO) for retail investors. The IPO, which coincided with a challenging period in the global equity market, saw a subscription rate of 122.9 times, highlighting robust demand despite the cautious environment.

LG CNS, a subsidiary of LG Group, has successfully attracted $14,68 billion in subscription deposits during its initial public offering (IPO) for retail investors. The IPO, which coincided with a challenging period in the global equity market, saw a subscription rate of 122.9 times, highlighting robust demand despite the cautious environment.
The subscription period, held between January 21 and 22, was conducted through prominent brokerage firms such as KB Securities, Mirae Asset Securities, Shinhan Investment, Daishin Securities, NH Investment Securities, and Hana Securities. The offering price was finalized at the upper end of the proposed range, $51.58, following strong interest during the institutional book-building phase earlier this month.
In the institutional demand forecast, which took place from January 9 to 15, 2,059 domestic and international investors participated, contributing approximately $63.3 billion in total bids. Based on the finalized offering price, LG CNS’s market capitalization is estimated at $5 billion.
The success of the IPO has sparked optimism in South Korea's IPO market, which has faced significant challenges over the past year. Market analysts believe the performance of LG CNS could encourage other major IPO candidates, such as DN Solutions, Seoul Guarantee Insurance, and Lotte Global Logistics, to move forward with their public listing plans. A senior official from an investment bank remarked, “The ability to gather $14,68 billion in deposits during a market slowdown shows there is still appetite for large-scale IPOs.”
Established in 1987, LG CNS specializes in system integration (SI) and digital transformation (DX). Over the years, it has grown into a key player in the LG Group's IT services and solutions portfolio. For the first three quarters of 2024, the company recorded $3.3 billion in revenue, reflecting a 7% year-over-year increase.
The company aims to use proceeds from the IPO to strengthen its position in artificial intelligence (AI) and cloud services. It has announced plans to advance its "Application with AI" strategy, integrating AI across marketing, sales, manufacturing, and procurement processes. Additionally, LG CNS is exploring acquisitions in the AI sector to enhance its capabilities in digital transformation.
The company is also focused on global expansion, with plans to grow its Global Development Centers (GDC) and recruit international talent. LG CNS is scheduled to debut on the South Korean stock exchange on February 5, with KB Securities, Bank of America (BoA), and Morgan Stanley serving as lead underwriters for the listing.