Hyundai Genuine Co., Ltd. announced that it has received KRW 127.5 billion in funding from Hyundai Heavy Industries Holdings Co., Ltd.
Hyundai Genuine Co., Ltd. announced that it has issued 255,000 shares at a price of KRW 500,000 per share for gross proceeds of KRW 127,500,000,000 on April 9, 2021. The transaction included participation from returning investor, Hyundai Heavy Industries Holdings Co., Ltd. (KOSE:A267250) to retain its stake of 100%. The company has issued shares through shareholder allocation method. The transaction has been approved by board of directors of the investor.