Hyundai Rotem in IPO

October 30, 2013

Cleary Gottlieb represented BofA Merrill Lynch, Deutsche Securities, Daewoo Securities and Woori Investment & Securities as underwriters in the Won 662 billion (approximately $587 million) IPO of common shares of Hyundai Rotem Company. The shares were sold through a public offering in Korea with a Reg S/Rule 144A international tranche. The deal priced on October 18 and closed on October 25, 2013. The shares began trading on the KRX KOSPI Market of the Korea Exchange on October 30, 2013.

Hyundai Rotem, a member company of the Hyundai Motor Group, manufactures railway systems, defense products and industrial equipment and machinery. It is one of the leading heavy industry companies in Korea.