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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Motor has selected the host company for the local initial public offering (IPO), an Indian corporation. The company plans to complete the listing of the Indian stock market as early as this year.
According to local foreign media and the investment banking (IB) industry on the 21st, Hyundai Motor has selected three companies, Citigroup Global Market Securities, JP Morgan and HSBC, as listed organizers for the listing of its Indian subsidiary. The company reportedly conducted a presentation to a foreign securities firm earlier this month to list the Indian stock market and made the decision recently. The group's goal is to complete the listing as early as the end of this year.
The corporate value is between 25 billion and 30 billion dollars (about 33.34 trillion and 40 trillion won), and the size of the public offering is said to be around 3 billion dollars (about 4 trillion won). According to local foreign media, if it succeeds in listing as planned, it will be the largest public offering in the history of the Indian stock market.
Hyundai Motor established an Indian corporation in 1996 and operates a plant in Chennai, India.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
