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Seoul/ Amsterdam (pte012/28.02.2003/11:41) - LG Philips LCD, a joint venture between South Korea and the Netherlands http://www.lgphilips-lcd.com:8888/English is pushing to enter the stock market.
The world's second largest producer of liquid crystal display (LCD) monitors has held talks with investment banks about a possible initial public offer (IPO), according to FinanceAsia.com and Bloomberg. Insiders are cited as revealing that leading managers of the two parent companies have met in Seoul and New York to discuss the move.
Reportedly showing an interest in the IPO are ABN, J.P. Morgan Vhase & Co., Lehmann Brothers, Morgan Stanley, Salomon Smith Barney and UBS Warburg.
A speaker for LG Electronics said: "The decision is not final yet. We need massive investments in the industrial sector, and it's therefore logical for us to consider this (IPO) option."
The company hopes to generate up to a billion dollars from the sale of new shares. The step would also give it the necessary means to invest in new equipment, in order to better compete with its rival Samsung. Samsung currently has liquid assets of about three billion dollars.
The future success or failure of joint ventures such as LG Philips LCD may be a topic of discussion at the upcoming Venture Journey Europe conference in London http://www.venturejourneyeurope.com/index.html , where investment bankers are to meet with venture capitalists to share insights on the international venture capital spectrum.
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