(Bloomberg) -- Hyundai Motor Co. is seeking to raise as much as $3.3 billion through an initial public offering of its Indian unit, kicking off the country’s...
-- Hyundai Motor Co. is seeking to raise as much as $3.3 billion through an initial public offering of its Indian unit, kicking off the country’s biggest-ever listing.Should Evictions Be Banned After Hurricanes and Climate Disasters?
The unit isn’t selling any new shares in the IPO and the entire proceeds will go to the parent firm. The IPO will open for bids next week from Oct. 15 to Oct. 17, and shares are expected to start trading from Oct. 22, according to the red herring prospectus published Tuesday. Anchor investors can put in orders on Monday.
India’s IPO market has been on a tear as a steady stream of inflows from savers has helped buoy stocks and boost liquidity, prompting multinational firms and private equity sponsors to consider monetizing their holdings in the country.Hyundai’s advisers for the share sale are Kotak Mahindra Bank Ltd., Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co., and Morgan Stanley, according to the share sale document.
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