Shares of Hyundai AutoEver will be traded on the country’s main stock market this week, the bourse operator said on March 27.
The ICT service provider of the world’s fifth-largest automotive conglomerate will go public on the Kospi on March 28 after the Korea Exchange gave the nod to its listing.
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The initial public offering price was set at 48,000 won ($42.3) per share, and the listing could generate around 1 trillion won in fresh capital, according to the KRX.
Hyundai AutoEver has vowed to expand investment in research and development to make a new platform-based service model for the future innovative growth of the whole group.
By Ram Garikipati and newswires (ram@heraldcorp.com)