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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] According to a report by Bloomberg on the 5th (local time), citing sources, Hyundai Motor's Indian subsidiary is highly likely to be listed on the Indian stock market on the 22nd.
Bloomberg reported that Hyundai's Indian subsidiary values itself at $19 billion (approximately 25.6 trillion won) and expects to raise $3.3 billion (approximately 4.5 trillion won) by offering 17.5% of its total shares. To achieve this, it is anticipated that the company will submit revised documents to the Indian stock market regulators as early as the 7th.
However, it noted that details such as the size of the IPO, corporate valuation, and listing timing may change as the review process is still ongoing.
In June, Hyundai submitted preliminary documents for the IPO (DRHP) to the Securities and Exchange Board of India (SEBI), stating its plan to sell up to 17.5% of its stake in the Indian subsidiary. This will be a public sale method without issuing new shares.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
