SEOUL (dpa-AFX) - Hyundai Motor Co. is seeking a valuation of $19 billion for the initial public offering of its India unit, Bloomberg reported citing people familiar with the matter.
According to the report, the automaker plans to sell a 17.5% stake in the business, potentially raising approximately $3.3 billion at this valuation. The IPO for Hyundai Motor India Ltd. is expected to occur in Mumbai on October 22.
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