Hyundai Motor India's IPO will open next week for subscriptions and will likely be priced in the range of 1,865 to 1,960 rupees ($22 to $23) per share...
NEW DELHI/HONG KONG - Hyundai Motor India 's IPO will open next week for subscriptions and will likely be priced in the range of 1,865 to 1,960 rupees per share, sources said on Tuesday, valuing the automaker at up to $19 billion in the country's biggest stock offering this year.
At the upper end of the price band, the company will roughly be valued at $19 billion, the sources said, adding the stock is set to start trading in Mumbai on Oct. 22.Hyundai is India's second largest automaker after Maruti and is looking to reclaim market share from domestic rivals by expanding its SUV lineup.
The South Korean automaker said on Tuesday it will still hold 670 million shares in Hyundai Motor India, or an 82.5% stake, after the IPO. NowCM and White & Case established for Haniel the world’s first fully digital, end-to-end automated commercial paper programme Colorcon, a global leader of film coatings, excipients, controlled release formulations, and controlled atmosphere packaging for the healthcare industry, today announced an exclusive partnership with LOTTE Fine Chemical, a leading provider of specialty chemicals around the world.
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