SEOUL (Reuters) -South Korean construction company Hyundai Engineering’s planned initial public offering (IPO) is expected to raise up to 1.2 trillion won ($1.02 billion), the company said on Friday.
Hyundai Engineering, an affiliate of Hyundai Motor Group, engages in civil and infrastructure engineering and construction business.
It expects to offer 4 million new shares in an indicative range of 57,900 to 75,700 won per share, it said in a regulatory filing. The company’s shareholders plan to offer a combined 12 million existing shares
The pricing is expected to be finalised in late January, with a listing in Seoul expected in February.
The company has hired Mirae Asset Securities, KB Securities, Goldman Sachs to lead the proposed deal.
($1 = 1,180.6900 won)
(Reporting by Heekyong Yang and Jihoon LeeEditing by Himani Sarkar and David Goodman)
