--- title: "LG Chem feeds the market 2.5 trillion won of LG Energy Solution stock, with more queued to 2030" description: "LG Chem filed on October 28 to sell 2.5 trillion won of LG Energy Solution stock, its fourth cut since 2022, and said it wants to hold only 70% by 2030. LGES shareholders absorbed an 8.6% drop the next morning, while the parent keeps 400 billion won of the proceeds for itself." publisher: "The Inference" section: "Economy" published: 2026-10-30T16:09:29.115Z modified: 2026-10-30T16:09:29.115Z canonical: https://theinference.org/article/lg-chem-feeds-the-market-2-5-trillion-won-of-lg-energy-solution-stock-with-more-queued-to-2030 language: en keywords: "LG Chem, LG Energy Solution, South Korea, Stock Moves, Batteries" --- # LG Chem feeds the market 2.5 trillion won of LG Energy Solution stock, with more queued to 2030 > LG Chem filed on October 28 to sell 2.5 trillion won of LG Energy Solution stock, its fourth cut since 2022, and said it wants to hold only 70% by 2030. LGES shareholders absorbed an 8.6% drop the next morning, while the parent keeps 400 billion won of the proceeds for itself. LG Chem's board met on October 28 and filed to sell 6,535,939 shares of its battery subsidiary [LG Energy Solution](https://theinference.org/markets/companies/lg-energy-solution), about 2.79% of the company, for roughly 2.5 trillion won ($1.88 billion) through a price return swap [1][2]. By 10:01 the next morning LG Energy Solution was down 8.6% at 356,000 won on the Korea Exchange, and [touched a 10.01% intraday loss](https://www.chosun.com/english/industry-en/2026/10/29/XTWXTEA5RJA5LEE7IB4EBZUQEM/) [3][5]. Samsung SDI, a rival battery maker with no such seller, rose 1.1% the same day [5]. That gap is the whole story: the stock's trouble is not the battery business, it is the shareholder. ## A parent that sells on a schedule The transaction runs from November 27 to December 24, structured as a two-year price return swap: LG Chem hands the shares to buyers now and settles the price difference in 2028, keeping upside gains and owing compensation if the stock falls [1][2]. This is the second such sale in a year. LG Chem sold 8.5 million shares for 2.55 trillion won at LG Energy Solution's 2022 IPO, raised about 2.6 trillion won through exchangeable bonds in 2023, and sold 5.75 million shares for about 2 trillion won through a PRS last October [2][5]. [Cumulative disposals now reach 9.6 trillion won](https://en.sedaily.com/finance/2026/10/29/lg-chem-keeps-selling-battery-stake-lg-energy-solution) [2][5]. *Chart: **The 2026 sale is the fourth cut; the queue to 2030 is the largest block yet** Bar chart of LG Chem's LG Energy Solution share sales: 2.55 trillion won at the 2022 IPO, 2.6 trillion won in exchangeable bonds in 2023, 2.0 trillion won in a 2025 PRS, 2.5 trillion won in this 2026 PRS, and an estimated 5.9 trillion won still queued to reach the 70% stake target by 2030.* *Trillions of won raised per LGES equity transaction, per Sedaily and Chosun; the final bar is an estimate of the remaining 6.59 percentage points valued at the current deal's reference price. Sources: [2][5]. [2][5]* ## The queue does not end in December The sale cuts LG Chem's stake from 79.38% to 76.59% [1]. But in November 2025 LG Chem said it wants to hold only about 70% by 2030, leaving another 6.59 percentage points, roughly 15.4 million shares, worth about 5.9 trillion won at this deal's reference price, still queued for market [2][5]. The reference price here is 382,500 won per share, set below Friday's recovery hopes [2][3]. ## The seller's math, and who pays for it LG Chem's motive is its own balance sheet: petrochemicals are squeezed by Chinese oversupply, and Shinhan Investment & Securities calculates that even at an 80% discount the LGES stake is worth 14.5 trillion won, about 87% of LG Chem's 16.7 trillion won market cap [4][5]. Of the after-tax proceeds, [400 billion won, double the previous 10% minimum policy, goes to LG Chem shareholders](https://biz.chosun.com/en/en-finance/2026/10/29/736CYC6YLNELNE4GKES7QVDVOQ/): 300 billion won in buybacks and 100 billion won in dividends [1][4]. LGES shareholders supply the cash and the overhang. An LG Chem official called the sale "an unavoidable measure to improve our financial structure"; an LGES official countered that freeing the float could, long term, activate institutional trading [5]. Both can be right. Our October 27 piece tested whether ESS demand supports the build-out; the filing changes the question [5]. Demand now has to outrun a dated, signposted seller [5]. ## What to watch The window opens November 27 [2][5]. Watch whether LGES absorbs the block without breaking the reference price, because a broken reference price costs LG Chem and may pause the glidepath; and watch the Q3 print, preliminary sales of 9.6434 trillion won and operating profit of 756 billion won, up 59.0% and 25.7% year on year, for proof the demand story is real [2][5]. Until the stake hits 70%, every rally is a selling opportunity for the parent [2][5]. Deep dive in below to learn more. ## Takeaway LG Chem's fourth LGES sell-down is deliberate and dated: 2.5 trillion won swaps in December, then a glidepath to a 70% stake by 2030, so demand must outrun a known seller until then. ## Sources 1. [Pulse by Maeil Business News Korea, LG Chem to sell 2.5 tn won in LG Energy Solution shares, 29 October 2026](https://pulse.mk.co.kr/news/english/12189678) 2. [Sedaily English, LG Chem Keeps Selling Battery Stake; LG Energy Solution Sinks 8%, 29 October 2026](https://en.sedaily.com/finance/2026/10/29/lg-chem-keeps-selling-battery-stake-lg-energy-solution) 3. [Chosun Biz, LG Chem stake sale sends LG Energy Solution tumbling in South Korea, 29 October 2026](https://biz.chosun.com/en/en-finance/2026/10/29/ITKHNLUIORDFZCNRBPY6FW6KWY/) 4. [Chosun Biz, LG Chem boosts shareholder returns after LG Energy Solution equity securitization, 29 October 2026](https://biz.chosun.com/en/en-finance/2026/10/29/736CYC6YLNELNE4GKES7QVDVOQ/) 5. [Chosun Ilbo (English), LG Chem Share Disposal Triggers 10% Plunge in LG Energy Solution Stock, 29 October 2026](https://www.chosun.com/english/industry-en/2026/10/29/XTWXTEA5RJA5LEE7IB4EBZUQEM/) --- LG Chem feeds the market 2.5 trillion won of LG Energy Solution stock, with more queued to 2030 — The Inference. Canonical: https://theinference.org/article/lg-chem-feeds-the-market-2-5-trillion-won-of-lg-energy-solution-stock-with-more-queued-to-2030