Hyundai Motor shares rise as Indian unit files for IPO

Enhancing competitiveness: Pedestrians walking past the logo of Hyundai Motor in front of a car dealership in Seoul. Having a majority stake in Motional will allow Hyundai Motor to make decisions faster and change directions quickly. — AFP

Seoul: Plans for what may be one of India’s largest-ever initial public offerings (IPOs) boosted shares of Hyundai Motor Co, putting them on course for a record high.

Hyundai – which will collect all of the proceeds from the IPO of its local unit – saw its stock jump as much as 6.3% in Seoul.