Hyundai Heavy Industries Applies for IPO Approval

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May 6, 2021
Credit: Jasmine Halki/Flickr - CC BY 2.0

Credit: Jasmine Halki/Flickr - CC BY 2.0

 South Korean shipbuilder Hyundai Heavy Industries Co Ltd applied for preliminary approval for an initial public offering, Korea Exchange said on Thursday.

The company, currently wholly owned by Korea Shipbuilding & Offshore Engineering, was separated from Korea Shipbuilding in 2019.

Hyundai Heavy reported a 2020 operating profit of 32.5 billion won on revenue of 8.3 trillion, Korea Exchange said in a statement.

(Reporting by Joyce Lee; editing by Jason Neely)

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