Hyundai lists in India
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 22 October 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
From the BBC World Service: Hyundai Motor India shares have made their trading debut after a $3.3 billion initial public offering, but the price has already slipped. We’ll discuss. Then, Russia is hosting the BRICS summit of emerging economies. Plus, Spain has seen a record number of migrant arrivals this year, raising questions over what role migrants should play in the Spanish economy.
Transcript
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| 0:00.0 | Just why are investors shrugging at Asia's biggest sale of shares? |
| 0:05.0 | That's where we're going to start, the Marketplace Morning Report from the BBC World Service. |
| 0:09.0 | Will Bain in For Leanna again today. |
| 0:11.0 | Yes, High Ende Motors in India made its debut in the country's stock market this morning. |
| 0:16.0 | The listing was the second biggest initial public offering of shares or IPO in the world this year. |
| 0:21.0 | But it's been a bumpy start why the BBC's India |
| 0:24.4 | business reporter Archanach Shukla is on this morning Ashana. Good morning. |
| 0:28.0 | Tell us then first of all before we come to Howich trading why was this seen as such a significant IPO such a big |
| 0:35.6 | IPO? Well, Munday Motor has a large presence across the world but this is the |
| 0:40.9 | first listing of the company in any other capital markets outside of Korea. |
| 0:46.3 | So that kind of shows the importance Indian market has for the Korean car maker. |
| 0:52.2 | It was also, you know, the Korean car maker. It was also the largest ever IPO |
| 0:55.2 | in the Indian stock markets have seen. |
| 0:58.0 | Hyundai Motors was looking and aiming |
| 1:00.4 | at a $19 billion sort of valuation in a market where they are the second largest |
| 1:05.2 | manufacturers and seller and the Indian market that has actually seen |
| 1:09.6 | substantial rise in sale of and demand for vehicles, especially the higher end models, |
| 1:16.0 | and that is what brought in so much interest in this IPO. |
| 1:19.8 | Shares though, since they've been available for people to buy and traders to buy |
| 1:23.7 | have been performing pretty lacklusterly why's that? Well yes you know the biggest |
| 1:28.2 | concern has been on the valuation which most investors and Brokridge's feel was much higher and very expensive. |
| 1:36.2 | You know investors was also a bit uncertain about the gains they would make because some of the big |
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