I am going to be very cautious and sceptical. Hyundai wants to take advantage of the IPO frenzy… that’s it.
For me, this IPO is outright crazy if not outrageous – if 100% OFS was not enough, the Korean promotors are expecting mind boggling premium when compared to Indian peers and Korean listed Hyundai Motors (mcap $47.5 Bn)
Btw… Korean Hyundai Motors is trading at meager PE of 5x and rich dividend distribution of 6% to Hyundai mothership
Hyundai Motor Group, the mothership, is third-largest South Korean chaebol (after Samsung and SK Group), and related to other Hyundai-name industries.
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