S.Korea railway vehicle maker Hyundai Rotem raises $585 mln in IPO

Newswire

SEOUL, Oct 18 (Reuters) - South Korean train manufacturer Hyundai Rotem Company has raised about 622.4 billion won ($585.22 million) in an initial public offering, selling shares at the top of an indicative range. The offering of 27.06 million shares was priced at 23,000 won per share after being marketed in a 17,000-23,000 won range, the company said in a filing on Friday. Hyundai Rotem has earmarked the majority of the proceeds for paying down debt and ...

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