SEOUL: South Korea’s Hyundai Heavy Industries Holdings has raised 800 billion won ($720.93 million) through the pre-initial public offering (IPO) financing of affiliate Hyundai Global Service, the firm said on Tuesday. Hyundai Heavy said it signed a pact to sell 38 percent of Hyundai Global Service shares to US investment firm KKR for 646 billion won, adding that it would get
Hyundai Global Service raises $721 mln in pre-IPO financing reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
South Korea’s Hyundai shipbuilding group acquired Doosan Infracore, a major construction equipment maker that has been up for sale, faute de mieux, as part of efforts by its debt-stricken parent company to secure liquidity in return for a bailout loan from creditors. The deal would lead to the creation of a dominant player in South .
Doosan Heavy sells stake in Doosan Infracore to HHIH
Posted : 2021-02-05 17:50
Doosan Infracore s excavator / Courtesy of Doosan Infracore
Korea s power plant builder Doosan Heavy Industries Construction said Friday that its board of directors has decided to sell the company s 35 percent stake in Doosan Infracore for 850 billion won ($757 million) to global shipbuilding holding company Hyundai Heavy Industries Holdings (HHIH).
Cash-strapped Doosan Heavy disposed of 76 million shares of its construction equipment unit Doosan Infracore to improve business efficiency and management structure, the company said in a regulatory filing.
On Dec. 10, a consortium led by HHIH was picked as the preferred bidder for the 35 percent stake in Doosan Infracore held by Doosan Heavy.
Hyundai Heavy IPO plan faces feasibility doubts
Posted : 2021-02-01 16:21
By Nam Hyun-woo
The feasibility of the scheduled initial public offering (IPO) of Hyundai Heavy Industries is facing doubts as the plan may undermine the value of its parent firms.
Some concerns are already growing that the company s 5 trillion won ($4.48 billion) valuation of itself may have been overhyped, casting a gloomy outlook on the pricing process of its new shares.
Hyundai Heavy said earlier it will launch an IPO and raise 1 trillion won by selling the company s new shares accounting for 20 percent of the total to the bourse. The shipbuilder said it will invest the money for eco-friendly future businesses.