Hyundai Heavy Industries Completes US$923 Million IPO and Listing on the Korea Exchange

Seoul – Paul Hastings LLP, a leading global law firm, announced today that it has advised Hyundai Heavy Industries Co., Ltd., the world's largest shipbuilder, on its US$923 million (KRW 1.08 trillion) global offering and listing on the Korea Exchange. Credit Suisse, Korea Investment & Securities and Mirae Asset Securities acted as the joint global coordinators and joint bookrunners.

As the flagship shipbuilding company of the Hyundai Heavy Industries Group, Hyundai Heavy Industries provides total shipbuilding solutions to its global customers, all in-house from design, engineering and fabrication to outfitting, testing and delivery. It also possesses complementary offshore industrial plant and engine design and manufacturing capabilities. Proceeds from the IPO will be used for developing eco-friendly shipbuilding technologies, investment in new technologies for “smart” shipyards and digitalized autonomous vessels, and working capital and other general corporate purposes.

Paul Hastings’ leading Korea practice has advised on several landmark capital markets transactions in 2021, including Krafton’s US$3.8 billion IPO, KakaoBank’s US$2.2 billion IPO, SK ie technology’s US$2 billion IPO, and HK inno.N’s US$523 million IPO.

The Paul Hastings team was led by corporate partner Iksoo Kim, with support from associate Sye Myung Kim and corporate attorney David Park.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.