South Korea's Hyundai Rotem postpones IPO plan
SEOUL, Sept 5
SEOUL, Sept 5 (Reuters) - South Korea's Hyundai Rotem has postponed indefinitely an initial public offering due to weak market conditions and industrial disputes, a source with direct knowledge of the matter said on Thursday, confirming an earlier report in the Maeil business newspaper.
Local media have previously estimated the size of the planned IPO at between 300 billion and 400 billion won ($274 million and $366 million).
Officials at the railway vehicle manufacturer, which is 57.6 percent owned by Hyundai Motor, declined to comment.
($1 = 1094.5500 Korean won)
(Reporting by Miyoung Kim; Editing by Matt Driskill)
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