Gah Sam-hyun, Vice Chairman of Korea Shipbuilding, "Hyundai Samho Heavy Industries to be Listed Within the Year"

[Asia Economy Reporter Hwang Yoon-joo] Hyundai Heavy Industries Group announced that it will pursue the initial public offering (IPO) of its shipbuilding affiliate Hyundai Samho Heavy Industries this year. With a continued boom in orders centered on eco-friendly vessels such as liquefied natural gas (LNG) carriers, it also forecasted that sales will increase by more than 10% annually until 2025.

According to the industry on the 19th, Kasamhyun, Vice Chairman of Korea Shipbuilding & Offshore Engineering, held a briefing for institutional investors on the 18th and said, “The listing of Hyundai Samho Heavy Industries is a promise to investors.” He reportedly explained, “We plan to carry out the listing within this year.”

Hyundai Samho Heavy Industries attracted a pre-IPO investment worth 400 billion KRW from domestic private equity firm IMM Private Equity (IMM PE) in 2017, presenting the condition of going public this year, five years later. It is known that a clause was included to compensate with an annual interest of 9.5% on the principal if the listing is not completed within the deadline. Hyundai Samho Heavy Industries is 80.54% owned by its parent company Korea Shipbuilding & Offshore Engineering, and IMM holds 15.15% of the shares.

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