Hyundai HCN in Won 83.6 Billion IPO

December 23, 2010

Cleary Gottlieb represented Hyundai HCN in its Won 83.6 billion (approximately $73.5 million) IPO of common shares. Citi served as the global coordinator and joint bookrunner, Hyundai Securities served as the joint bookrunner and HMC Investment Securities and HI Investment & Securities acted as co-lead manager. The shares were sold through a public offering in Korea and a Rule 144A/Reg. S offering elsewhere. The deal priced on December 10 and closed on December 17. The shares began trading on the KRX KOSPI Market of the Korea Exchange on December 23.

Hyundai HCN is one of the leading cable television companies in Korea and provides cable television, Internet access, Internet telephone and advertising services to more than 1.4 million subscribers.