Bloomberg News

LG Electronics Falls in Seoul on New Share Sale Speculation

November 02, 2011

Nov. 3 (Bloomberg) -- LG Electronics Inc. retreated as much as 7 percent in Seoul trading on speculation that the company may sell new shares, said Park Seong Min, an analyst at Kyobo Securities Co. The world’s third-largest mobile-phone maker fell 6.4 percent to 66,800 won as of 9:25 a.m. on the Korea Exchange. The benchmark Kospi Index dropped 0.7 percent. Ken Hong, a Seoul-based spokesman for LG, wasn’t immediately able to comment.

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Shinhye Kang at skang24@bloomberg.net


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