Hyundai Engineering Submits Securities Registration Statement... Plans KOSPI Listing in February Next Year
Total Offering Size Expected to Be 16 Million Shares, Public Offering Price Range KRW 57,900~75,700 per Share
Demand Forecast Scheduled for Late January Next Year, Offering Price to Be Finalized, Listing Expected in Mid-February
Hyundai Engineering announced on the 10th that it has submitted a securities registration statement to the Financial Services Commission for listing on the Korea Composite Stock Price Index (KOSPI) and will begin the formal public offering process. Mirae Asset Securities, KB Securities, and Goldman Sachs Securities are managing the listing.
Hyundai Engineering plans to offer a total of 16 million shares in this public offering. The desired price range per share is from 57,900 KRW to 75,700 KRW.
A company representative stated, “Through consultations with the lead underwriters, we decided on the offering structure considering securing an appropriate volume of circulating shares to activate trading after listing and maintaining a stable stock price trend,” adding, “The funds raised will be invested in ongoing new businesses to secure future growth engines.”
In July, Hyundai Engineering established the G2E (Green Environment & Energy) division to enter next-generation small modular reactor projects, CO2 resource recycling, and hydrogen production based on waste plastics and ammonia. Additionally, the company expanded its Technology Research Institute into a Smart Technology Center to promote ESG-based eco-friendly technologies, artificial intelligence design, and modular housing businesses.
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The demand forecast for domestic institutions is scheduled to take place from January 25 to January 26 next year. After finalizing the offering price through this process, Hyundai Engineering plans to accept general subscriptions on February 3 and 4 and complete the listing within February.
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