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Hyundai Motor Seeks $19 Bln Valuation For IPO Of Indian Unit : Report

October 04, 2024 — 05:51 pm EDT

Written by RTTNews.com for RTTNews->

(RTTNews) - Hyundai Motor Co. is seeking a valuation of $19 billion for the initial public offering of its India unit, Bloomberg reported citing people familiar with the matter.

According to the report, the automaker plans to sell a 17.5% stake in the business, potentially raising approximately $3.3 billion at this valuation. The IPO for Hyundai Motor India Ltd. is expected to occur in Mumbai on October 22.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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