Reuters, “Hyundai Motor India’s IPO attracts $13.44 billion from institutional investors”
Local funds in India also participate massively,
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Chairman Chung Euisun of Hyundai Motor Group is pictured during his visit to India last April, where he took a commemorative photo with local employees./Hyundai Motor Group,
, ‘Hyundai Motor India’s initial public offering (IPO) saw participation from the Singapore government and the world’s largest investment company BlackRock.’,
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, ‘According to Reuters on the 15th, Hyundai Motor India sold $989.4 million (approximately 1.344 trillion won) worth of shares to institutional investors the day before, with Singapore’s government and BlackRock jointly acquiring $73.3 million, and Fidelity acquiring $76.5 million worth, while local funds purchased around $340 million worth.’,
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, ‘The shares of Hyundai Motor India will start trading in Mumbai on the 22nd, with retail investors subscribing from the 15th to the 17th. Hyundai plans to dispose of 17.5% (142.19 million shares) out of the 81.254 million shares it owns in the Indian subsidiary. The book value for the 100% stake is currently only 754.4 billion won, but the actual value is as high as $19 billion (approximately 25.8 trillion won). Hyundai’s current market capitalization is around 52 trillion won.’,
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, ‘With the expected offer price set, Hyundai Motor India is expected to raise up to $3.3 billion (approximately 4.48 trillion won).’,
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, ‘Hyundai Motor India’s IPO is expected to surpass the $2.5 billion raised by India Life Insurance Corporation in 2022, making it the largest ever in the Indian stock market. This year, the Indian stock market has been thriving, with over 260 companies going public and raising more than $9 billion. Hyundai is the second-largest automaker in India after Maruti Suzuki. The Indian subsidiary recorded a net profit of 92.11 billion won last year. It plans to launch its first indigenous electric vehicle early next year and introduce two gasoline models by 2026.’,
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