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Hyundai Motor Co And Morgan Stanley Fund's Hyundai Rotem Files For IPO-Reuters


Monday, 16 Sep 2013 07:34pm EDT 

Reuters reported that Hyundai Rotem said it plans to raise up to KRW622.4 billion ($575 million) in an Initial Public Offering. Hyundai Rotem, owned by Hyundai Motor Co and a Morgan Stanley fund, said in a filing late Monday that it planned to sell 21 million new shares and six million existing shares at a price of between 17,000 won and 23,000 won each. It plans to announce its final price on October 21, 2013. Approved by South Korea's stock exchange in June 2013, Hyundai Rotem's public offering plan has progressed slowly because of labour disputes during annual wage negotiations. 

Company Quote

245000.0
5000.0 +2.08%
18 Apr 2014