Hyundai Motor Group Chairman Chung Euisun.
Hyundai Engineering Co., an unlisted construction affiliate of the Hyundai Motor Group, is seeking an initial public offering on the Korean bourse, a move widely seen as a precursor to the automotive group’s ownership revamp.
According to the investment banking industry on Apr. 13, Hyundai Engineering last week sent out a request for proposals (RFP) to brokerages interested in managing its planned IPO.
Among the prospective IPO managers are Mirae Asset Securities, Korea Investment & Securities, NH Investment & Securities, Shinhan Investment Corp. and Hana Financial Investment. Citigroup Global Markets Korea, Morgan Stanley, JPMorgan and Credit Suisse have also been asked to submit a bid.