What Hyundai Rotem means for the Korean IPO market

Author: Ashley Lee | Published: 5 Nov 2013
  • The initial public offering (IPO) of Hyundai Rotem, which manufactures rolling stock, defense products and plant equipment, was the largest in Korea since 2010;
  • It is only the second IPO on the Korean benchmark index this year. Its strong performance prompted optimism for Korean IPOs in 2014;
  • A senior Korean equity syndicate banker stressed that although many have described this deal as a two-tranched deal for foreign and domestic investors, this IPO was a one-tranche deal offered to domestic investors and foreign investors under Rule 144A and Regulation S.

The $587 million initial public offering (IPO) of Hyundai Rotem was the largest IPO in Korea since 2010 and marked a move away from two-tranche Korean offerings.

Hyundai Rotem, a manufacturer of rolling stock, defense products and plant equipment, debuted...