Hyundai Heavy Industries Submits Securities Registration Statement... Accelerating Listing Next Month

Procurement Funds to Be Used for Investment in Eco-Friendly Technology Development and More

[Asia Economy Reporter Kim Ji-hee] Hyundai Heavy Industries is accelerating its initial public offering (IPO).

Hyundai Heavy Industries announced on the 10th that it has submitted a securities registration statement to the Financial Services Commission to be listed on the KOSPI market. The total number of shares offered is 18 million, all of which are newly issued shares. The desired offering price per share is 52,000 to 60,000 KRW, with a maximum fundraising amount of 1.08 trillion KRW.

The funds raised this time will be used to invest in the development of eco-friendly technologies such as hydrogen and ammonia ships and electric propulsion solutions. Investments related to eco-friendly energy businesses, including the establishment of smart shipyards, will also be strengthened.

In January, Hyundai Heavy Industries announced an IPO plan to raise about 1 trillion KRW by issuing new shares equivalent to 20% of the total shares. Since then, it has been carrying out related tasks such as selecting underwriters and submitting preliminary review applications. The Korea Exchange also confirmed Hyundai Heavy Industries as eligible for listing on the 5th, three months after the preliminary review application.

With the submission of the securities registration statement on this day, the listing scheduled for next month is highly likely to proceed without any setbacks.

Hyundai Heavy Industries plans to conduct demand forecasting for institutional investors on the 2nd and 3rd of next month and finalize the offering price. Then, it will carry out a general public subscription on the 7th and 8th to complete the listing procedures next month.

This content was produced with the assistance of AI translation services.