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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Hyundai Mipo’s Robotics stake sale to improve finances’

  • PUBLISHED :June 22, 2017 - 16:20
  • UPDATED :June 22, 2017 - 16:20
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[THE INVESTOR] Hyundai Mipo Dockyard’s financial structure will improve from the sale of its stake in Hyundai Robotics, said Dongbu Securities on June 22, raising the target price to 120,000 won (US$105.18) from 96,000 won.




This will resolve cross-shareholding structure that has been created during the spin-off in April and will bring in close to 350 billion won in cash to repay debt, said analyst Kim Hong-gyun. 

Meanwhile, it has received orders of US$1.07 billion this year, surpassing last year’s US$910, explained Kim but maintained a “hold” rating saying that the favorable factors are mostly reflected in its stock price that hiked 68.9 percent this year.

Meritz Securities pronounced the offloading as “the best choice to protect its shareholders and to satisfy legal requirements.” 

As it plans to use the entire income to repay debt, its debt-equity ratio will shrink, added analyst Kim Hyeon, maintaining a “buy” recommendation and 455,000-won target price. 

By Hwang You-mee (glamazon@heraldcorp.com)

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