Hyundai Motor India IPO:

Potentially India's Biggest Public Offering Could Come From South Korean Carmaker

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The Managers Bulletin
June 18, 2024

Hello! 👋👋

Here are 5 things you missed today. Because we get it, life is busy & who has the time to sit around and read the news - here are 5 things we think you need to know in the world today.

1 -🚗 Hyundai Motor India IPO: Potentially India's Biggest Public Offering Could Come From South Korean Carmaker

Hyundai Motor India filed for an IPO in Mumbai, potentially becoming the biggest in India. The company, India's second-largest carmaker, seeks to raise $2.5-$3 billion by selling a 17.5% stake (up to 142 million shares). This will be the first carmaker IPO in India since 2003 (Maruti Suzuki). The funds will be used for further growth in the crucial Indian market, where Hyundai already has significant investments and future plans for EVs and exports.

2 -🏡 China's Property Market Rescue Stumbles as Prices See Steepest Drop in Years

Despite China's recent efforts to revive the property market, new home prices saw their biggest monthly drop in a decade in May. The government's rescue plan, which included buying unsold homes from developers, is yet to show significant impact. Overall, China's economic picture remains uneven with strong export growth contrasted by a slumping property market and weak domestic demand.

3 -💸 Tesla Appeals Court After Shareholders Re-Approve Elon Musk's $56 Billion Pay Package

Tesla is arguing in court that shareholders' approval of Elon Musk's pay package should be considered valid, potentially reversing a judge's earlier decision that struck it down. The company says the vote fixes flaws identified in the court's ruling, while opponents argue it has no legal impact. Both sides will present their arguments in July, with potential appeals to follow.

4 -🛩️ Boeing Scrambles to Find New CEO as Current Chief Calhoun Announces Year-End Departure

Boeing's hunt for a new CEO hits turbulence as top choices, including GE Aerospace's Larry Culp and Boeing's own COO Stephanie Pope, reportedly reject offers. The company faces safety concerns after a fuselage incident and a slumping stock price. While analysts see Boeing's long-term prospects as strong, the current CEO search adds uncertainty to its near future.

5 -⚖️ US Government Accuses Adobe of Misleading Customers on Subscription Plans

The U.S. government is suing Adobe, claiming the software company deceived customers into signing up for expensive subscriptions. The lawsuit alleges Adobe hides fees and makes it difficult to cancel, potentially costing users hundreds of dollars. Adobe has not yet commented on the lawsuit.

Written by The Managers Bulletin team - Australia
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