Hyundai Engineering Decides to Postpone IPO... Withdrawal Report Submitted
[Asia Economy Reporter Lee Seon-ae] Hyundai Engineering announced on the 28th that it has decided to postpone its public offering with the consent of the joint lead managers and joint managers.
The company explained the reason for submitting the withdrawal report as follows: "We conducted a public offering for common shares and carried out a demand forecast to finalize the offering price, but considering various conditions such as difficulties in properly evaluating the company's value, we canceled the remaining schedule and submitted the withdrawal report."
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Hyundai Engineering was planning to offer a total of 16 million shares through a KOSPI initial public offering (IPO). The desired offering price per share was between 57,900 and 75,700 KRW. Mirae Asset Securities, KB Securities, and Goldman Sachs were in charge of underwriting the listing. Demand forecasts targeting domestic and foreign institutional investors were conducted over two days starting from the 26th, and after finalizing the offering price, the listing was scheduled for the 15th of next month.
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