Morgan Stanley-backed Hyundai Rotem gets green light for IPO
Hyundai Rotem, a South Korean railway vehicle manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has received approval to list on the Korea Stock Exchange. It will likely be the country’s largest share offering so far this year and the first by a PE-invested company on its leading bourse.
The number of shares to be sold and the price range have yet to be disclosed, but according to media reports Rotem is expected to raise at least KRW300 billion ($269 million). This would make it the largest...
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