1.14% +0.0408

LG Display Co Ltd. ADR (LPL)

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Why is LG Display Co Ltd. ADR (LPL) Stock down?

We've noticed a 5.30% decline in LG Display Co Ltd. ADR (LPL) stock during the 2024-04-12 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

18 Dec, 2023:

Shares of LG Display Co Ltd. ADR (LPL) dropped by 10.68% from $4.87 to $4.35 in the trading on Monday, December 18, 2023. The reason why LPL down today is due to LG Display's announcement of a rights offering, where the company intends to raise $1.05 billion. The move is aimed at strengthening its premium organic light-emitting diode (OLED) panel business and overall competitiveness. LG Display plans to issue around 142 million new common shares, priced at 9,550 won per share, to its existing shareholders. These funds will be used to invest in OLED panel production, enhance competitiveness, repay debts, and secure future growth in the dynamic OLED market. LG Display anticipates the OLED division to contribute significantly to its sales, targeting over 60% by 2024.