FX.co ★ Hyundai Motor Seeks $19 Bln Valuation For IPO Of Indian Unit : Report

Hyundai Motor Co. aims to secure a $19 billion valuation for the initial public offering of its India division, according to insiders cited by Bloomberg. The company intends to divest a 17.5% stake in the unit, potentially generating around $3.3 billion based on this valuation. The IPO for Hyundai Motor India Ltd. is anticipated to take place in Mumbai on October 22.