If successful, Hyundai Motor Company’s forthcoming IPO will be a history-making event in many ways.
For one thing, it is taking place not in Seoul – where the South Korean automaker already has a primary listing – but in the Indian financial capital of Mumbai.
For another, if all goes well it is set to be a huge listing, at least when set against the backdrop of an enduringly soggy global equity capital market that has only just begun to show signs of revival.
Bankers on the sale – which is being managed by Citi, HSBC, JPMorgan, Morgan Stanley and local firm Kotak Mahindra – tip the listing to raise upward of $3 billion, likely in the final quarter of the year.
“$3 billion is a not unrealistic sum to be looking at,” says one individual close to the deal. “It could well be more.”
There are any number of reasons to get excited about the news. If successful, it will be the country’s largest stock offering, with quite a lot of room to spare.
If it is a very successful [listing] by us and the other banks involved, it will showcase the premium India currently offers
For years, Coal India’s $1.82
