LG picks banks for US$1.5bil listing of India unit

- Reuters

SEOUL: South Korea’s LG Electronics Inc has picked banks for a potential initial public offering (IPO) of its Indian business that could raise as much as US$1.5bil, according to sources.

LG has tapped banks including Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co and Morgan Stanley as arrangers for an IPO that may take place as early as next year, the sources said.