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Hyundai AutoEver shares to be listed on Kospi this week

Shares of Hyundai AutoEver will be traded on the country’s main stock market this week, the bourse operator said on March 27.

The ICT service provider of the world’s fifth-largest automotive conglomerate will go public on the Kospi on March 28 after the Korea Exchange gave the nod to its listing. 

The initial public offering price was set at 48,000 won ($42.3) per share, and the listing could generate around 1 trillion won in fresh capital, according to the KRX.

Hyundai AutoEver has vowed to expand investment in research and development to make a new platform-based service model for the future innovative growth of the whole group.

By Ram Garikipati and newswires (