Reported 8 months ago
Hyundai Motor's stock in Seoul reached a record high as its India unit filed for one of India's largest initial public offerings, aiming to raise $2.5 billion. The Korean automaker plans to sell a 17.5% stake in Hyundai Motor India Ltd., with the IPO proceeds going to Hyundai. Hyundai's suppliers and subsidiaries also rose in stock value on expectations of benefiting from the company's expansion in India.
Source: YAHOO