Hyundai Motor Singapore PTE. LTD. announced that it expects to receive KRW 31.535604982 billion in funding from Hyundai Autoever Corporation
Hyundai Motor Singapore PTE. LTD. announced that it will issue 380,254 common shares at a price of KRW 82933 per share for the gross proceeds of KRW 31,535,604,982 on October 30, 2020. The transaction include participation from returning investor Hyundai Autoever Corporation (KOSE:A307950). Post completion of transaction, investor will hold 10% stakes in the company. The transaction has been approved by board of the company. The transaction is expected to close on November 24, 2020.