Hyundai is planning to list its Indian business in what is set to be one of the biggest-ever public offerings in India amid rising car ownership and soaring equity markets in the world’s fastest-growing large economy.
The South Korean automaker will sell up to 142mn shares, or 17.5 per cent, of its holding in Hyundai Motor India on local exchanges, according to the draft prospectus seen by the Financial Times.
The filing, lodged with India’s capital markets on Saturday, did not specify pricing. The offering is expected to raise about $2.5bn, valuing the company at around $25bn, according to a person with knowledge of the matter.
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