In today’s briefing:
- HD Hyundai Marine Solutions IPO: The Investment Case
HD Hyundai Marine Solutions IPO: The Investment Case
- HD Hyundai Marine Solution (443060 KS), the ship after-service subsidiary of HD Hyundai (267250 KS), aims to raise up to US$550 million.
- The international book-building will run from 8 to 22 April, while the domestic book will open from 16 to 22 April. Pricing will be announced on 24 April.
- The investment case rests on solid top-line growth, a healthy order book, rising margins, cash generation, and modest leverage.
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