time to read 1 minutes

Hyundai Engineering paves its path to go publicINTL

Hyundai Engineering paves its path to go public

Hyundai Engineering, the construction subsidiary of Hyundai Motor Group, is laying the groundwork for its initial public offering. The South Korean company said that the IPO is meant to boost its credibility on a global scale after having recorded a 6% growth in revenues in 2020, compared to 2019.

The firm was originally pondering a merger with its majority shareholder, Hyundai E&C, but eventually decided to go its own way. Hyundai Engineering has already submitted its IPO proposal but is still unsure of the timeline, so you’ll have to watch this space for updates.

why it matters
If all goes well, this will be Hyundai’s first “offspring” to go public in two years – so, expect quite a bit of hype from this deal.