Hyundai Motor Securities Signs Lead Underwriting Agreement with Asentec for KOSDAQ Listing
Hyundai Motor Securities announced on the 12th that it signed a lead underwriting agreement for the initial public offering (IPO) on the KOSDAQ market with Asentec, a subsidiary of Sejong Industrial, a specialized automotive electronics company, on the 8th.
Asentec is a subsidiary wholly owned by Sejong Industrial, a specialized automotive electronics company. It is a mobility parts specialist focusing on sensors and actuators, producing wheel speed sensors (WSS) used in automotive braking systems (ABS) and electronic shift levers (SBW). Its clients include global automakers such as Hyundai Motor Group and Stellantis.
Previously, Asentec demonstrated its technological competitiveness by achieving the first domestic production of automotive wheel speed sensors and developing the domestically produced electronic shift lever, one of the essential components for autonomous driving. In 2019, it was registered as a first-tier supplier for Hyundai Kia Motors, solidifying its position in the domestic market. In 2022, it also gained recognition for its technology in the global market by signing a technology license agreement with a major Indian automotive parts company.
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A representative from Hyundai Motor Securities stated, "Through the upcoming listing on the KOSDAQ market, Hyundai Motor Securities will do its best to ensure that Asentec’s unique technological capabilities are recognized and that its appropriate corporate value is evaluated. Along with a successful listing, we will continue to strengthen our positive partnership with Asentec."
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