Asian Tech Press (Jan 14) -- Tesla battery supplier LG Energy Solution (LGES) has priced its initial public offering (IPO) at the top of its indicative range, seeking to raise about $10.74 billion in the upcoming largest-ever IPO in South Korea.

Yonhap News Agency reported that LGES will raise 12.75 trillion won ($10.74 billion) in an IPO this month, which will be the largest ever initial public offering in South Korea, according to a regulatory document filed by the battery maker on Friday.

The filing also showed that LGES set the IPO price at 300,000 won per share, the top end of the 275,000-300,000 won range it initially offered.

And the IPO will value LGES at 70.2 trillion won ($59.15 billion), making it the third largest listed company on South Korea's main KOSPI market, after Samsung Electronics Inc. and SK Hynix.

(US$1 = 1186.7914 won)